WPP... I want my fucking money!!!
My good mate "The Founder" over at the Tribble Agency, has a great post about how the Poisoned Dwarf's stock WPPGY, is tanking big time. Obviously not much demand for shopping trolleys these day, let alone really fucked up BDA's. As The Founder points out, it's down over 8% to day, and is worth half what it was a year ago. But, the best bit is that WPP is now worth 1/2 what the company was valued at when Dell signed up with them to launch the world's most fucked up agency, Enfatico. As a WPP shareholder, I am really fucking pissed... I still have the FIVE fucking shares Sir Martin gave me when I won a Gold EFFIE for him on IBM when I was freelancing at O&M. Now, instead of them being worth $265, they are only worth $145. Maybe I should sell them and buy IPG. Ha, I'm not that crazy. Actually, anyone owning shares in anything to do with advertising, should have their fucking heads examined!
Maybe WPP should get back to basics.
Maybe Warren Buffet will buy your shares. He appears to be out bargain shopping. He'll get very rich if he lives long enough.
Posted by: Auntie Christ | October 06, 2008 at 04:05 PM
I donno Auntie Christ ... he might... but I wouldn't go and buy anything yet... there is still quite a way down before this turns around... it will go up.. and down.. then down again.. then maybe slightly up...
The point is the trend is down.. and it will continue to head down until companies can walk into a bank.. and take a loan out for a few million to retool their factory...
Otherwise there is no way any company can upgrade and continue to do business.
Posted by: The Founder | October 06, 2008 at 07:11 PM
My recent strategy; not watching the news (figure if it's catastrophic enough someone will tell me)and acting as if I'm in a state of suspended animation with a horizon of 18 months--will do what i've got to do and float through it and believe, in about 18 months, the economy will still be a turd but there will be light at the end of the tunnel
Posted by: adrefugee | October 06, 2008 at 07:23 PM
You can always take it and go buy 1.5 shares of Apple.
Posted by: bg | October 06, 2008 at 09:18 PM
can you buy stock in Enfatico? that sounds like a WINNER!
take a weak product, a gutsy "can-do!" attitude, several hundred thousand square feet of global real estate and enough money to float an island and boy howdy!, top 30 world-wide agency...
yessirree, these guys have it figured out!
maybe sir martin should offer Enfatico to IPG? sounds like their cup of tea.
Posted by: the lower depths | October 07, 2008 at 05:11 AM
Interesting that much of the blame for our current economic crater is being laid at the feet of "can't miss" empirical risk models based on hard data which obviously could not factor in human emotions like greed followed by fear. Are you watching click counters?
Posted by: Stu Sutcliffe | October 07, 2008 at 10:24 AM
that's always been one of the problems with data: it reflects a mindset at a particular time.
there are no variances for "the human condition" because it's so hard to pinpoint when events and how events and situations will alter perceptions...
best to follow common sense: if given the opportunity, greed will supplant honesty, as a generality. some brokers will remain honest, most will not, given the $$$$ at stake.
Posted by: the lower depths | October 08, 2008 at 04:54 AM
@ adrefugee
18 months might not be enough... but if you can wait 120 months you will probably laugh
Posted by: 18 months... hmm better it be 120 months | October 15, 2008 at 06:19 AM