Harry,
Thank you very much for remembering.
I find it rather ironic that today's WSJ article was based on Merill Lynch's Mainframe analyst's opinion of IBM. If you recall, back in January 97, when I first realized that the quality of IBM's earning's were very poor, I posted my reasons for that opinion on this thread. At that time I referred to the previous Merrill Lynch analyst, Dan Mandrish, as IBM's leading Bull. I now regard Dan's retirement as very timely.
It must have been an extremely difficult decision for the new ML Mainframe analyst to make. To be one of the first analysts to raise doubts about the IBM's quality of earnings, took guts. My question is though, where were all the other WS analysts, over the last nine months, not to have declared that "The Empiror has No Clothes".
Regards,
Jules |
