Drew,
Bill Fleckenstien had something to say:
Gateway (GTW) was the big story.ÿ In one of the of the most outrageous, duplicitous maneuvers I have ever witnessed, Gateway waited until 15 minutes into the conference call before releasing their financials.ÿ They claimed it was a business wire problem; I seriously doubt that.ÿ I think it was an attempt on their part to hide the income statement, balance sheet or the numbers to avoid hard questions.ÿ
This is a complete outrage.ÿ They should have pre-announced--they missed the number by close to 20 percent.ÿ All the line items were a disaster, every component was a disaster.ÿ Guys like me, who have been short the stock and been vocal about it, were dead right on everything.ÿ This company's performance and behavior is inexcusable.
They have obfuscated the facts. About this time last year at an investment conference Gateway said they would not pre-announce, and then turned around a couple of days later and pre-announced (the rumors were out there before anyway).ÿ This behavior has to stop; it is the same dishonesty we are getting from other book-cooking companies.ÿ This company is loaded with promoters, and people should be forewarned.ÿ
I don't normally recommend individual shorts, because they are so dangerous, but if I could be short one stock for the next couple of years, Gateway 2000 would be it. (I should disclose my fund is short this company)
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