Shy Guy suggests we trust Dr. J. Lacking a Plan B, I concur.
To: Ramsey Su who started this subject
From: Ramsey Su Sunday, Jul 30, 2000 7:50 PM ET
Reply # of 1635
"shy guy post"
This is particularly for Kahn and our former TechnoPoobahSurferDude [who has
now been sent to the back bench for remedial education, or medication,
whichever is needed to eliminate his confusion].
It is almost laughable to see the criticisms with respect to creation of
Spinco and charges of "management failing to execute". LOL. Just what did
they fail to execute? I don't know of a single thing in their product
roadmap that has not rolled out on time or ahead of schedule this year. I
don't know of a single strategic move that has failed in its intended
purpose. Moreover, all of you who were cheering Irwin and the management
team, literally ready to kiss their collective asses at the annual meeting,
somehow think he and the rest have now gone senile and somehow forgotten the
formula for creating shareholder value. Well, excuse me, but Irwin and the
rest of the team are the same people they were in December and Qualcomm
today is a stronger company and in a better position than it was seven
months ago.
It amazes me that after a decade of IWJ telling his shareholders EXACTLY
what he was doing, never misleading, never resorting to hyperbole, still
people don't just look at exactly what he says and take that at face value.
Irwin flat out tells us that creation of Spinco will allow the asic division
to maximize its opportunities with both its current roadmap and the [barely
commented on] new market for multimode chip sets. And the reaction is what?
"I don't believe it - yadda, yadda, yadda." So, who would know better what
strategy and corporate structure maximizes the value and opportunity set?
IWJ and the management team that has created $50 billion of current market
value, or a bunch of back bench, internet posters who suddenly, because the
market has temporarily crapped on their share price, think they know more
about the business than the folks on the front line?
Irwin also flat out tells us that, sans Spinco, Qualcomm is going to extend
its value creation machine even further. Somehow this has been completely
missed by many that comment on these boards. The message was as clear as
day. Qualcomm is going to use every opportunity and its considerable
resources to extend and enhance its huge competitive lead. "We will have
more to say on that soon", must have been repeated 3 or 4 times, and two
days later we are looking at a media event press conference. Don't you all
get it? You can put anything Irwin says in the bank.
Several months ago I invited everyone to consider a world where 300 or 500
million cdma devices are sold each year. If you think that year is very far
away, you should sell your stock and play the day trading game that leads to
perpetual riches. If you can do some simple math, you will not only hold
onto your stock, you will pray that nothing that any fool says on SI ever
dissuades you from the conclusion that you have, by luck or intelligence,
happened upon one of those two or three in a lifetime companies that
combines the right opportunity, at the right time, with the right people.
I'm disappointed and going back into permanent hibernation.
The Shy Guy
tekboy/Ares@whataresixmonthscomparedtoaninvestmenthorizonofmillenia?.com |
