Jean, your post at Microsoft was one of the best I have seen in quite some time. I am bringing over a copy of it so the folks can read it here. thanks again for the insight
>>From: +Jean M. Gauthier
Wednesday, Oct 27 1999 2:14PM ET
Reply # of 31210
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 |
