Goldman Compares Software to Newspaper Stocks
Just hold your nose and buy
Goldman comparing software to newspaper stocks that fell 95% in the internet era is about as bearish as it gets. Markets have seen this movie before: when analysts flirt with “zero” outcomes, real positioning is washed out and real expectations have already collapsed. More often than not, that’s when contrarians start paying attention. The only thing that stops us from starting to buy is that we kind of agree with the comparison - the fundamental outlook truly is awful.