It was always tough, but today we are in the throes of something we have never seen in our history. It’s clear in recent times the market is looking for a bottom.
Viacom’s results for the first quarter put the company on a fast track for another record year in 2004.
The reason we have not gone to newspapers is because its a slow growth industry and I think they are dying. I’m not sure there will be newspapers in 10 years. I read newspapers every day. I even read Murdoch’s Wall Street Journal.
We understand that the real market value of Blockbuster may never be fully realized as a wholly owned part of Viacom.
I think we’re in the beginning of a bull market. When a bull market begins, nine months later the economy turns around.
Success is not built on success. It’s built on failure. It’s built on frustration. Sometimes its built on catastrophe.