IBM Message Board - Msg: 6153663

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Technology Stocks : IBM

IBM 288.49

-0.5%

Nov 19 3:59 PM EST

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To: Jim Koch who wrote (4104)	10/25/1998 10:02:00 AM
From: Skeeter Bug	Read Replies (2) of 8218

jim, make no mistake, gerstner has done a great job. i'm not trying to put him nor ibm down. i don't get emotional over stocks. it is neither here nor there. i do believe ibm is overvalued right now. let me ask you this. if ibm didn't buy back their stock, could they have used the stock buyback money to lend out and received much more profit from the loans since they didn't have to pay interest to a third party? best case scenario is ibm effectively borrowed about $1 billion to buy back stock. worst case, $5 billion. but, hey, what's a couple billion between friends? ;-) with regard to the buybacks, my only point is that they do work while the stock goes up. maybe ibm will go up forever. i just doubt that. good luck.

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