The closest thing to "Gee, maybe we were wrong.." from TheStreet.Com.
But while Owens was a bull among the bears of his high-tech peers, he also got a little miffed at some questions that analysts asked over issues raised by TSC columnists Herb Greenberg and Whitney Tilson.
But the fact that these two issues (increased account receivables, pending litigation) took up so much time on the conference call, which ran for more than 90 minutes, clearly aggravated Owens, who came to Manugistics 18 months ago and has largely been seen as the engineer of its turnaround.
"Any time of the day, you can take part of the numbers and make them sound any way you want them to," Owens said. "But that's not the full story."
But with the stock trading at a steep 14 times last year's sales, it makes sense for investors to ask those questions. Apparently, with the rise of the shares in the aftermarket, they liked the answers.
It's unclear to me why lemmings continue to follow these folks when they freely admit their own investment follies:
Herb Greenberg writes daily for TheStreet.com. In keeping with TSC's editorial policy, he doesn't own or short individual stocks, though he owns stock in TheStreet.com. |
