And thanks to the expanding reach of the BillCara.com blog, I got to meet him. In checking in yesterday and enquiring about the hotel's wireless broadband service, Manish stepped forward to ask, "You wouldn't happen to be the Bill Cara, who writes a blog, would you?"

It is a small, small world indeed.

And so he proceeded to properly set up the Office 2003 and Gadwin screengrabber that I need to produce this blog. Manish, I and thousands of others thank you.

I had been up until 1:30am Sunday morning with my alarm set for 4 to be at the airport at 4:45am for the first flight out. I couldn't get my new laptop working properly and I hadn't packed yet. But I had found Bahia Beach via Expedia and had booked at midnight, being unsure if people from Bahamas had made further travel plans for me. They hadn't so I checked into this hotel for the day, and you know the rest.

Well actually I chose Bahia Beach because it's next door to Bahia Cabana, on the waterfront overlooking the famous Bahia Mar marina, where I used to keep my boat on annual contract. So this is like home.

Did I mention that Bahia Cabana has the "World's Best Waterfront Bar" and yesterday was Super Bowl Sunday?

Now you and the Steelers know the rest.

And this place also has CNBC and BloombergTV. Only problem is that there is only one TV and I have to switch channels, and besides it's another glorious day in paradise, and I have places to go and people to see.

Before I leave, I wanted to point out to those who don't have CNBC or read the headlines of Yahoo Finance, there are negative stories that always come out whenever a bear market starts, and today's story is about click fraud at Google.

This is the same click fraud issue I wrote about when GOOG was at $100, not $400. I told you it was a serious problem then; the traditional media is telling you now.

And that is why traders are turning to bloggers like me. We don't have any interest in helping Wall Street pull markets up or push them down.

And those of us who are advertising-free don't care a whit about how many subscribers click on AdSense, which to me is a service that makes "no sense" in terms of its valuation.

You see, business needs to be paying for transactions, not media. Selling and buying is what business is about.

That's the problem in the business world today. Not enough people are focused on the bottom line.

And they don't seem to learn from the past. There was a time 15 years ago, when Compuserve was the 800-pound gorilla in electronic information delivery. But their charges were ungodly. It was like paying Fedex more to deliver a package of diamonds than the cost of the diamonds.

Media is about content, which is the diamond, and how you access it " in an open marketplace " is important but ought to be secondary.

I have always looked at Google like an advertising company, and I see that Google is the first successful advertising company in the era of the Web. But, just like what happened in the traditional advertising world, I have just been waiting for other geniuses to come along to challenge the people at Google.

In time they will, which is why I think long-term oriented traders should not be holding GOOG at 100 times earnings. The higher the PE, which is due to today's revenue/earnings growth rate, is like a welcoming beacon to other geniuses backed by big money. And the world is awash in geniuses as well as money.

That's the thing about Google; they have already introduced the product of their genius, and now they have earned money and market position.

But there is nothing proprietary to genius, money or position. So unless Brin, Page et al continue to exhibit new genius, the old one has a shelf life shorter than one might think with a 100 PE, or an 80 PE or even a 60 PE.

When my parents were born, there was no commercial air travel. When I was born, there was no outer space travel. When my children were born, there was no Internet highway.

As time moves forward, the milestones of human achievement are tremendous. Pretty soon Google will be ten years old, and by then I think it will be old news, like IBM and Microsoft, whose PE's dropped when competition sprung up.

By 2010, new technologies will successfully challenge Google, which is why I would not pay their lofty PE.

Click fraud is already old news. Today, it's just a story being manufactured by Wall Street and their associates in Old Media to grab your attention.

Try to keep your eye on the big picture.

Have a good day. I know I will.

I will be staying here for another day (weather is beautiful) and then traveling to Freeport Bahamas in the morning.
Also, I see that the Shanghai/Shenzhen had terrific post-New Years Day opening day as I had figured.

And gold is way up too.

Life is unfolding as it should.

---

This photo is Shooters where I went for the first two margaritas of the day. I chose Shooters, not because of the boats, but because I brought my computer to an internet cafe located nearby. They couldn't help, so I returned to Bahia Beach, where Toomanish solved my "issues". That got me quicker to Bahia Cabana, where I enjoyed my last two margaritas. I'll keep it a secret how many I had in between, but I will say something about the people down here -- they take their margaritas seriously. They serve them more different ways than I can drink them. :-)