An intelligent GOOG comment
From, of course, Paul Kedrosky :
Ugh, the commentary this morning from never-worked-in-capital-markets entrepreneurs and VCs on Google's results is driving me nuts. Guys, it doesn't matter that Google was close on its results, and it doesn't matter that this won't chill the entrepreneurial or venture investing climate. What matters is that a volatile, young publicly-traded company with a nose-bleed valuation says it doesn't give guidance, but does. And on one major line where it does give guidance -- forward tax rates -- it got things badly wrong, and it didn't have enough earnings to make up the difference.
Generally, people or institutions that behave erratically are less valuable, and less cherished, by the world.
