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Strategies & Market Trends : Gorilla and King Portfolio Candidates
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To: Jacob Snyder who wrote (51186)5/1/2002 3:47:23 PM
From: paul_philp  Read Replies (2) of 54805
 
Jacob,

I think you are conflating the function of the treasurer with strategic investments. The treasurer is responsible for the 'cash and equivalents' management. I am sure that QCOM went through a process to evaluate how much cash on hand they needed to reserve for the next 12 months. The treasurer will then invest the rest in a combination of money market accounts, t-bills, bonds, etc to manage risk/return. A well managed treasury will have produced detailed investment requirements and given them to their banker to satisfy. I do not think you can assume, from the on-going losses at QSI, that the treasury function at QCOM cannot manage risk. Dollars to donuts says that the treasurer objects regularly to the QSI investment on the same grounds you do. I have no recollection of QCOM having to restate or write-off anything due to standard treasury activity. QSI, on the other hand, ... it is still partying like it's 1999.

Paul
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