Yahoo, Rumors and Stupidity

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yahoo_dark_small.jpg ADOTAS — So the WSJ ran a story about former AOL chief Jonathan Miller talking to investors about buying all or part of Yahoo that prompted all sorts of blogging kvetching.

Michael Arrington, who I avidly read, turns into a wingnut and wonders if the SEC should investigate any possible stock manipulation. Even Kara Swisher takes a pop at the story but at least notes that Yahoo rumors have been a constant.

Despite the WSJ saying, in its lead, that it was “a long-shot deal, ” Arrington cries about the investors who bought high, on the – remember – rumors, only to see the stock go back down by the end of the day. Maybe I’m missing something, or he’s just being cranky but any investor who buys on a clearly dubious rumor should be ready to die because of it.

Swisher notes, and it has been reported earlier, that Miller has met with Yahoo people and is kicking the tires for perhaps buying parts of the rudderless search company. Until a leader is found, rumors will proliferate, including on Arrington’s blog, and calling in the SEC to investigate the press is a bit silly.

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