Not true Bob. I was a big fan of DELL as early as mid '95. I made a ton of money on DELL, and I sold my position at a multi split adjusted 60 and change. I first shorted the stock on the opening day of Dan Niles call. It was too precise not to have been bolstered by some inside info--in my opinion. I never had a lot of respect for Dan Niles, but lately he has been very very prescient in his calls.
And I have never said that DELL is not a great company. It is. But DELL has had a Goldilock's existence for the past three and one half years, and I feel that many factors are about to change--all of which I have listed in previous posts. These include less Y2K buying, increased competition, decreased margins, decreased revenue and profit growth , a PE that is too high relative to its forward looking profit and revenue growth, increasing component costs that will drive down profits quicker than its competitors because of the DELL business model, and new product introduction costs. In short, there are many factors, which suggest that its current valuation is simply not sustainable going forward.
As far as golf is concerned. You are absolutely right. As far as other "fine folks" are concerned, I have found many of the posts by bulls here to have been very enlightening over the years, but I am beginning to see a cheerleading quality to the same posts that used to be much more solid in their reasoning. That's another tip that the party is over on the Good Ship Dell.
Good luck in your investments.
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