Hi guys,I am a long term holder of JMB and will continue to hold...

Hi guys,

I am a long term holder of JMB and will continue to hold despite this being one of my few dog investments.

The two most significant issues that could be legitimately weighing down on the SP are:

1) The (continued) fall of the USD and whether this is a structural or temporal event. JMB earn ~50% of their revenue in USD. They have hedged a reasonable amount for 2010 in the 70's but nothing after that for 2011.

2) JMB is the global leader in social networking using mobile devices. The convergence of web and mobile holds both opportunity and threats. For JMB the largest threat is that some massive web social networking site, such as Facebook, et al smashes into their niche mobile market and JMB's products suddenly/ slowly become irrelevant.

Cheers
John