[dot_clear.gif] [dot_clear.gif] [dot_clear.gif] [dot_clear.gif] [dot_clear.gif] [dot_clear.gif] [dot_clear.gif] [twst_com.gif] [line_bak2.gif] [small_twst.JPG] [dot_clear.gif] [dot_clear.gif] ____________ [search.gif]-Submit [dot_clear.gif] TECHNOLOGY | HEALTH | CONSUMER | INDUSTRIAL | FINANCIAL | NATURAL | INVESTING [dot_clear.gif] [dot_clear.gif] [dot_clear.gif] [head_online2.gif] [quotes_charts.jpg] ____ [go.gif]-Submit [dot_clear.gif] [side_triag.gif] Latest Issues [side_triag.gif] Advanced Search [side_triag.gif] Subscribe [side_triag.gif] TWST Conferences [dot_clear.gif] [head_subscriptions.gif] [dot_clear.gif] [side_triag.gif] Subscribe Online [side_triag.gif] TWST Products [dot_clear.gif] [head_sectors.gif] [dot_clear.gif] [side_triag.gif] Technology [side_triag.gif] Healthcare [side_triag.gif] Consumer [side_triag.gif] Industry & Services [side_triag.gif] Financial Services [side_triag.gif] Natural Resources [side_triag.gif] Investing Strategies [dot_clear.gif] [head_about.gif] [dot_clear.gif] [side_triag.gif] Who is TWST? [side_triag.gif] Contact TWST [side_triag.gif] Contact TWST Europe [side_triag.gif] Sample Issue [side_triag.gif] Home [dot_clear.gif] Click the button below to talk to a live representative from The Wall Street Transcript [?cmd=hccredit&site=43323746] [dot_clear.gif] [blank.gif] [blank.gif] [blank.gif] [blank.gif] [blank.gif] [blank.gif] [blank.gif] The Wall Street Transcript publishes: [blank.gif] [blank.gif] [blank.gif] [blank.gif] Internet Security & Identity Authentication Issue Four analysts and top management from nine sector firms examine the Security/Internet Security & Identity Authentication sector in this 51 - page Issue from The Wall Street Transcript. Investing Strategies Report Weekly series of interviews with TWST Editors and top money managers [blank.gif] [blank.gif] [blank.gif] [blank.gif] Let the best minds of Wall Street pick your stock [blank.gif] [blank.gif] [blank.gif] [blank.gif] How has Special Stock Report been able to consistently outperform the major indices? Find out how! [blank.gif] [blank.gif] [blank.gif] [blank.gif] [blank.gif] [blank.gif] [blank.gif] [blank.gif] [blank.gif] [blank.gif] [blank.gif] [blank.gif] [blank.gif] [blank.gif] [blank.gif] Click Here Analyst explains reasons why GoTo.com is still his top pick Full article published: 07/25/2001 SAFA RASHTCHY is a Vice President of U.S. Bancorp Piper Jaffray [full_article.gif] For Subscribers [but_subscribe.gif] Get the complete article now! Nine analysts and top management from thirty-seven sector firms examine the Media & Entertainment sector in this special 199-page issue from The Wall Street Transcript, available at (212/952-7433) or http://www.twst.com/info/info389.htm TWST: Safa, we last spoke to you about Internet media back in November 2000. At that time, you told us that everyone was still waiting for the real promise of online media. What's happened in this space since that time and to the promise that was associated with it? Mr. Rashtchy: I think this is a good time for us to revisit that question, because enough has happened to enable us to say that, unfortunately, some of that promise hasn't materialized. Part of the promise that I was referring to was with regard to what the online publishers could deliver to advertisers and here, primarily, I'm referring to contextual commerce. A big area of focus for the online media was that it would be possible to actually induce people to shop by presenting opportunities to them at the point at which they're reading something relevant. The argument was that because of the relevancy of the context to the offer, consumers will take the offer and make a purchase. As it turned out, that's not quite how it works. The idea sounds terrific, that if a person is reading an article in, say The New York Times about a Fourth of July barbecue, and there's an ad for a barbecue on the page, that the reader would click on it and buy the item. TWST: Is there any pattern emerging as to who the offline advertisers will be? Mr. Rashtchy: Yes, there is. We think that it would pretty much match the top advertiser categories in the offline world. For instance, the automotive industry is the biggest advertiser offline. We believe they will be the biggest advertisers online. Technology has been skewed a lot more to online advertising and they will probably continue to be a top advertiser. But even some consumer brand advertising will be there, so I don't think there will be a significant difference from the composition of the advertisers online versus offline. TWST: Have investors started to come back into the stocks? Mr. Rashtchy: They have started to be more interested. I'm certainly getting more calls inquiring about the Internet media space. People are saying if we do hit the bottom, there are opportunities on the way up, especially among the stocks that have been totally hammered and offer a better value. And if there is any sign there will be some comebacks, some of these stocks may turn out to be great buys at this point. So there are some inklings of interest. There is a lot of interest, but as of now, there is no significant come back to these stocks. TWST: On a note dated June 20, 2001, you said that GoTo.com (Nasdaq:GOTO) was your top pick. Is it still? Mr. Rashtchy: That is still our top pick because GoTo has shown that they had a model that worked beautifully even in the worst of times for Internet advertising. So clearly, their value proposition for the advertiser is so strong that, even when others were cutting back, they kept buying more of GoTo's offering. We believe that from what we're finding, that continues to be the case, that there is more demand for GoTo's leads as they sell to these advertisers. At the same time, consumers find GoTo very useful because it gets them into the merchant in the most direct way. So GoTo is still our top pick. This special issue includes: 1) Broadcasting - TV & Radio - In an in-depth (10,600 words) Analyst Roundtable, James Goss, Vice President at Barrington Research Associates, Inc. and Alissa Grahm, Media Analyst at William Blair & Company, examine the outlook for the sector including, general market radio, regulatory outlook and share specific stock recommendations. 2) The TWST confidential Off-The-Record survey of management performance at nineteen sector firms asked market insiders about the ability of management teams to create shareholder value. 3) Media & Entertainment Stocks - In an in-depth (3,100 words) Analyst Interview, Edward Hatch, Head of Media & Entertainment Equity Research Group for SG Cowen Securities Corp., examines the outlook for the sector and shares specific stock recommendations. 4) Entertainment & Media Stocks - In an in-depth (6,500 words) Analyst Interview, David Miller, Media and Entertainment Analyst at Sutro & Co., Inc., examines the outlook for the sector and shares specific stock recommendations. 5) Newspaper Stocks - In an in-depth (3,300 words) Analyst Interview, Leland Westerfield, Director in the Communications Group of UBS Warburg Equity Research, examines the outlook for the sector and shares specific stock recommendations. 6) Internet Media Stocks - In an in-depth (3,600 words) Analyst Interview, Safa Rashtchy, Vice President of U.S. Bancorp Piper Jaffray, examines the outlook for the sector and shares specific stock recommendations. 7) Outlook for Media & Internet Media Stocks - In an in-depth (3,400 words) Analyst Interview, Jordan Rohan, Head of Media Research at Wit SoundView Corp., examines the outlook for the sector and shares specific stock recommendations. 8) Interactive Television & New Media Technologies - In an in-depth (5,100 words) Analyst Interview, Murray Arenson, Equity Research Analyst at Morgan Keegan & Company, examines the outlook for the sector and shares specific stock recommendations. 9) Interactive Technology - In an in-depth (4,100 words) Analyst Interview, David Lee Smith, Senior Analyst covering the media sector for Dain Rauscher Wessels, examines the outlook for the sector and shares specific stock recommendations. 10) CEO interviews (average 2,500 words). Top management of thirty-seven sector firms examine the outlook for their firm and the sector. Tickers included in this excerpt: GOTO For US quote, enter ticker here: _____ Go For a European quote, enter ticker here: _____ Go Have TWST notes emailed to you free: Version: Email address: [All-Sectors - daily.........] _________________ Go [full_article.gif] For Subscribers [but_subscribe.gif] Get the complete article now! Email this page [wsw_small_62_44.gif] ________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ This interview is a small excerpt from a comprehensive interview published in The Wall Street Transcript on 07/23/01. For more information call (212) 952 7400. The Wall Street Transcript does not endorse any of the comments made by interviewees, and does not make stock recommendations. Copyright 2001, Wall Street Transcript Corp. SECTOR LINKS Consumer Products Leisure Media Retail [dot_clear.gif] [dot_clear.gif] [dot_clear.gif] HOME PRODUCTS SUBSCRIBE ABOUT ARCHIVE HOTLINE CONTACT EUROPE [dot_clear.gif] [dot_clear.gif]