It's not easy for Barry Diller, chairman of the Internet mish-mash IAC (Match.com, Citysearch, Ask.com and many others), especially since he's sitting on nearly $2 billion in cash. Problem is that Diller doesn't believe we've reached bottom, which means that potential acquisitions, particularly in the Internet arena, are likely to keep falling in value. Why buy now? Here's what he told CNBC (courtesy of Silicon Alley Insider):
"We've seen the finance sector and we've seen all of the chaos that's come of that. We haven't seen it yet relative to real estate, relative to corporate debt, things like overleveraging. The same kind of overleveraging that went on in financial institutions God knows went on in acquisitions and re-capitalizing companies. That hasn't yet waded itself through. I think the prices of things will continue to come down."