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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Michael Bakunin who wrote (58608)	5/5/1999 1:36:00 PM
From: Earlie	Read Replies (9) \| Respond to of 132070

MB and gang: Have been running hard of late with little time to catch up with the thread, but caught up by skimming this A.M. Whew! A few notes: My long-running bearish views on Rambus were further reinforced by contacts this last few days who have suggested to me that Samsung has let Intel know that they intend to cut back on their Rambus-related R&D. I touched base with some Samsung contacts but they were close-mouthed about the topic. Personally, I think Rambus is in deep trouble as a result of an increasing understanding within the industry that it cannot compete across the full spectrum of micros with the DDR chips and also because it suffers cost-to-produce shortcomings when compared with DDR. Bad news for both INTC and RMBS, which are both members of my "Top Ten" Hit Parade. Months ago, I suggested that Iridium was a candidate for insolvency. The heat taken at the time was extensive, but the facts provided have turned out to be accurate. Iridium's client list is minute, while the debt load is massive. The debt-related time bombs are ticking. Profits on this one have been excellent, but the risk/reward ratio gets better as chapter 11 draws closer. Adding on every bounce now. Iridium's implications for MOT are much larger than their execs are suggesting and MOT's stock price has not yet been hit. We are bringing our gunsights to bear (lousy pun) on this target. I have never had much interest in gold, and have zero expertise in same, but as the U.S. current account and trade deficits have exploded, and as both the Euro and Yen take knife wounds from their respective political masters, gold as a hedge against possible currency explosions makes sense at this end. To this end, I've dug around a bit up here, looking for possible long candidates that might assuage my propensity to twiddle with currency-related "worry beads". If any members of the gang are similarly afflicted, I'll happily provide some thoughts on one or two decent speculations. Delighted to see MB's excellent kick at the IBM monster in print. (We can share the same lawyer Mike, when they sue both of us). That Louis has been able to carry off this remarkable sleight-of-hand speaks to the complete lack of research in today's markets. Neither the revenues nor the profits have advanced consequentially for over three years, yet the stock has soared by 350% over that same time frame. Worse, the assets evaporate to finance the share buybacks. What insanity!. They will look back at this situation in future years and ask a simple question,.......how could this have occurred? Best, Earlie