Hi Shibumi, >>I obviously lack your ability to look forward effectively.<<
You were being facetious, I hope. I guess you misunderstood my point, being, most everybody was blind-sided by the events in Asia and the effect it continues to have. My personal view is that the most deleterious effect is on the supply side, that is to say, competitive pressures driving prices further downward. Further, I also believe that estimates going forward would remain difficult to calculate even under the best of circumstances. (Though it would be nice for someone to take a stab at your question). I would be more concerned about a scenario whereby the RMBS royalty stream is called into question on a fundamental basis. Since it is my view that the RMBS/INTC dynamic is still in place, what would be more important to me is seeing quarter to quarter percentage gains more than raw numbers, I think, though, simplistic, that would give any RMBS investor a useful roadmap. As you can tell, I don't necessarily put a great amount of faith in "valuations" or p/e ratios when it comes to stock price, I take a basic supply/demand perspective based on company fundamentals. bp |
