Hi people,
ENTERTAINING RANT ALERT....<g>
Think about how many people are able to add INTC and MSFT today, as only yesterday it was announced they will be part of the Dow Jones.
I know only 386 Million $ is in Dow index funds, but I wonder how many are in things like DIA.
Needless to say, the cripples "IBM, CPQ & HP" have been able to crush INTC, MSFT and DELL very well this autumn , and in some cases , (Dell) all year....
CPQ has been bushwacking Dell all year with all kinds of comments, with dell "only" growing business at 40-50% YOY.
I have to admit, INTC is a very hard stock to own, incredibly volatile for such a large corporation. How else can you explain a range of what, $ 64 - 89 $ in weeks ?
MSFT has been going all out, yet has been stagnant since JANUARY, with records sales & profits results.
Dell has been crushed in the 30's, from a high of $ 55 in January, based on free PC's, "only" 40%+ growth, and the "pc-is-a-dying business" crowd.
I dislike the rah-rah maniacs (sorry for the insult), spoiled investors that are pushing things like JDSU and the Juniper/Sycamore crowd to unimaginable heights, on flimsy sales and massive losses (except JDSU, just wildly overpriced, but very badly run inside, from friend I know who work there).
But INTC and MSFT & DELL are NOT rewarded for stellar financials, stellar investments and other business initiatives (INTC/MSFT superb Investment pool, and INTC Online services -very , very slick BTW), and incredible market domination. Dell's inventory is a MINUS -7 Days, it's has no debt,tons of cash, is killing it's competition (The 3 "cripples") and has finally hit 18% of the US market, overtaking ComPaq. Do ANY of them get any respect.
Nope....
1- earlier this Year, it was cyclicals
2- Middle Year, it was interest rates. Can someone tell me WHY interest rates hurt the NasDaq, and especially MSFT, INTC and DELL, when they HAVE NO DEBT TO SPEAK OF, and they are SITTING ON MOUND OF CASH !!!!????!!!!!
3- Still interest rates, and now, the real bugaboo, Y2K !!!!!! Every shitty company, from IBM, CPQ and HP are blaming it, and the street lets them off the hook for it, not blaming it on EXECUTION.
When EMC, SUNW, CSCO, LU, NT, DELL, INTC and MSFT, all companies that beat or came very close to expectations (or bet them handily) say that Y2K is not a problem, and that their forward guidance is POSITIVE (very Positive in the case of MSFT/EMC), why are these crap companies (CPQ, IBM & HP and others) able to get the market to tank ??
I am so frustrated and tired of this.
I guess that is why the average fund manager is not even capable of beating the indexes.
Rant over, let me know what you think people.
Take care
Jean
P.S. I know Greenspan has been taking hits lately, and in some cases I would like him to shutup too. But he is NOT in the manipulators camp, he is pretty good and open-minded about the new economy. We are ALL frustrated investors lately, but Greenspan is NOT the problem. JMHO |
