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Technology Stocks : Dell Technologies Inc.
DELL 133.35+0.1%Nov 28 9:30 AM EST
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To: Mike Van Winkle who wrote (136862)7/17/1999 8:30:00 PM
From: rudedog  Read Replies (2) of 176387
 
Mike -
My comment was really more about attitude than substance. Yes, DELL has better contact with its customers than anyone in the business - but that has nothing to do with management looking at past success rather than future challenges.

I posted in November of '98 my reasons for believing that DELL would be trading in the 35-45 range (70 to 90 pre-split) through mid-99 at least, and probably through the end of the year, and included a lot of careful analysis and data to back up that opinion. I got hooted off the thread as a short seller, naysayer, CPQ bigot... as it turned out, that read was pretty accurate.

Since I still have a large DELL position, the potential of the company going forward is a major interest of mine. I find the attitude I saw on the stage and the press MSD is doing (we're going to expand in a contracting market etc.) to be disturbing, since I see little substance to back up the statements. The reference to the CPQ 1997 meeting was just a gut feel - I watched Pfeiffer and Mason strut around making statements about how they were going to rule the roost without any clear idea of how that would happen (this was before both the Tandem and DEC acquisitions). It was that attitude more than anything else that convinced me to sell some of my CPQ position and buy DELL.

MSD at that time was under-selling and over-delivering - his public statements were free of the kind of predictions that I heard in this meeting, at a time when DELL was on a much stronger upward trajectory.

I just find the shift in attitude disturbing.
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