Friday, April 17, 2009

Google, Non-disasters, Pirates, Friday

Google reported last night and the earnings were good enough. Growth is still slowing but the share gains continue and cost controls were very good; something that this name is not exactly known for.

Citi and GE, both heavily shorted until recently and probably still, both reported decent quarters and had decent commentary about the future. If I were short either I'd be looking to cover.

This earnings season has not been a disaster so far. Of course things could get worse, but other than unemployment, it's difficult to bet on any sector of the economy deteriorating materially from here.

Gun sales are on a tear and values for higher end firearms are surging. I hope those buyers, whoever they are, don't know something that I don't know.


The Pirate Bay is a cool site that hip people use to download/stream free online music and movies via torrents. Some people call that stealing. You be the judge.

Speaking of judges, one in Sweden today threw the four founders of the service in jail for one year and ordered them to pay over $3 million in restitution to the media companies they were harming. It has been years (if I remember correcly) since any users of these types of services have been been punished, so it doesn't appear to be a risky proposition other than the increased chance of contracting viruses, for downloaders that is.

Mike Masnick boils down the real issue at his blog over here. Pirate Bay doesn't have any content on its site, it just enables sharing, which does not sound like copyright infringement to many. I'm not sure how this will ultimately play out but it would be nice to know the rules.

Ironic that we get a different kind of Pirate action this week.

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