Yahoo (NASDAQ: YHOO) benefited from a Carly Catapult when they announced that they had replaced Terry Semel with Jerry Yang as CEO in June. Little did they know that their incoming CEO (informer) was a poker junkie with a serious lack of focus. Jerry Yang has spent the last week plus holed up in a casino and competing in the World Series of Poker, the seminal annual poker event.
You can google this (Yahoo won’t get you the same results because it sucks) and you will see it is true. We did and it is. It is no coincidence that Yahoo stock is down ~5% today as of this updated writing and it is no wonder why Yang says he will need 100 days to do a “strategic and operational review” of the firm. How many of those days will be blown on his infamous poker benders?
Recommendation: While we commend the sheer hubris of taking a week off work as head of one of the largest internet companies to compete in the WSOP, is this really what serves shareholders of Yahoo best? Short YHOO.
Note: This recommendation was filed yesterday based on yesterday’s prices. We have predicted the future, in the past, because we are smarter than you.
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Au contraire, a gambler, a risk taker, and someone willing to go “all-in” is exactly what Yahoo needs. Furthermore, the 850 to 1 returns he delivered on invested capital in WSOP makes me excited to see what returns he can generate on YHOO. If he can generate as little as 500x returns in the next 100 days, he may be able to stem the tide of shareholders calling for his head.
Write-Offs: 07.18.07…
$$$ Yahoo’s CEO is Addicted to Gambling, Stock Down [Long or Short Capital] $$$ A few random thoughts from Larry King, the first one being: “I am fucking insane.” [The Onion] $$$ Neocons on a Cruise [AlterNet] $$$ “Don’t tarry,……
Do some better due diligence, please. The Jerry Yang who won the WSOP title has nothing to do with the CEO/Founder of Yahoo other than share a name and live in California. Even obtuse journalists from ESPN checked into the coincidence and reported correctly. Or else you were making a joke.
dzl: unintentionally funniest post of the year.
Psh, jokes? Here? Dubious.
Pictures don’t lie DZL.
Too close to be coincidental. How many Asian Yangs can there be in California in the mathematics/tech field?
The answer is 4.
not the same Jerry Wang. eheck out the pic here http://www.msnbc.msn.com/id/19777938/
That clearly is the yahoo founder. For people like him there will never be enough. First internet, now poker… what next? ethanol? Long piganol. Yang’s slathering himself with it right now.
Definitely the same guy. The lighting and angle are just weird in that pic.
Just loaded up on DZL and Caveat Bettor puts.
wrong jerry yang, moron’s!
just because he is asian and has the name jerry yang doesn’t mean he is the CEO or YHOO
wrong Jerry fools!
[...] just for disambiguation sake, I do not have a gambling problem. It’s only a problem if you lose. May 7, 2008 | Business News, Case Studies, Questions [...]