To All, Random notes: 1. Yes, that is me buying the Freddie Mac April 55 puts. New all-time highs, extremely leveraged, risky balance sheet, declining margins, could come under attack with D'Amato losing in New York. Also, cheap puts because everyone thinks it is the Treasury. <G>
2. More Xmas lies out of this Deloitte group in VAR Business, the trade rag for the channel. These Doofi said that pc cos. are making a comeback due to their deft reductions of inventories. <VBG> This one is really funny, especially given the audience for the piece, the channel cos., which are stuffed to high heaven. It is sort of like getting credit for clearing the leaves out of your yard by using one of those blowers to dump them on your neighbor. Watch the balance sheets, as they don't lie. The drop in inventories will more than be matched by a huge rise in receivables. I guess industry touts don't think we are smart enough to figure that one out.
3. SangStat started shipping its generic cyclosporine today, just 3 weeks after FDA approval. For accomplishing this remarkable feat, the stock is getting hammered and is under $20 again. As everyone knows, that is MB buying territory. I expect to pull the trigger soon.
Good Luck,
MB |
