IBM Message Board - Msg: 5392283

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Technology Stocks : IBM

IBM 307.94

0.0%

Dec 5 9:30 AM EST

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To: Robert Scott Diver who wrote (3631)	8/3/1998 2:20:00 AM
From: Jules B. Garfunkel	Read Replies (1) of 8218

Scott, Your, " Most of us simple minded investors focus on EPS." It is precisely because most of you simple minded IBM investors focus on EPS, that over the last year and a half, I have written so much on IBM's poor quality of earnings. infoworld.com " You continue to make the argument that the current high price makes stock buybacks a bad decision. I believe you have been making this argument since the stock was at $30 pre-split." Yes this true, but only since $85 post split. "Slowing sales of Notes" might better read "slowing acceleration in sales of Notes". "Potential loss of business in certain areas" applies to all companies. The "stockholders equity" that is important to me is the amount my stock is worth. That has been going up steadily for years." Yes I also acknowledge that IBM can consistantly put the best sin on a negative event than almost any other company I have ever seen. "Did you predict and discount the fact that IBM has the fastest and cheapest mainframes -and- the largest (and fast growing) services business?" Yes, if you go back to my posts in March of 1997 you will see that I did predict this. What I said then is that I didn't think was that these two growth areas would offset all the other negatives for IBM, which I also continue to write about. Jules

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