Google Spin

Google (GOOG) the latest internet stock darling announced the hiring of a Mr Cerf, touted to be one of the fathers of the internet. (shades of Al Gore) The stock is trading at stratospheric PE multiples and needs a lot to satisfy investor expectations. I become skeptical when the corporate spin machine continues to spew press releases about personalities. While it appears that Mr Cerf has a distinguished past and offers a lot in the future, Google is so large that one individual cannot make that much of a difference.
Sometimes when following executive appointments I think I am reading the sports page and not the business page. Long term investment and wealth creation does not rest on the abilities of one or two individuals.