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Matthew Rafat

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  • The Best Investment Advice George Soros Ever Gave [View article]
    Tom and Northwest, I enjoyed your spirited discussion. If you haven't already, I recommend both of you read Mallaby's book, _More Money than God_. It discusses Soros and provides a unique viewpoint as to whether his Quantum Fund was beneficial or harmful.
    Jul 13 02:39 PM | Likes Like |Link to Comment
  • California's Tipping Point [View article]
    "How Safe are Police Jobs?"
    Apr 6 01:15 PM | Likes Like |Link to Comment
  • News From Intuit's Annual Meeting: Evolving Software, Focusing on India [View article]
    @An Onymous: 1) Intuit isn't currently providing tax services or tax software in India;

    2) in India, most consumer transactions are in cash, and the government is having difficulty getting its citizens to file tax returns and pay the full amount of owed taxes;

    3) obviously businesses that seek to invest in India assume they will make some sales, not zero; however, they become too easily enamored with the potential for billions of sales and forget the difficulty in establishing a foothold in a country with poor infrastructure.

    Once you realize that most Indian consumers--at least as of 2011--do _not_ have modern-era trains, broadband, or paved roads, you will then understand that their ability to buy products from anywhere outside their immediate geographic area will be limited.
    Jan 25 12:29 PM | Likes Like |Link to Comment
  • Notes From Accuray's 2010 Shareholder Meeting [View article]
    @Mattie Brock: I've reviewed numerous shareholder meetings and have been critical of executives whom I felt deserved criticism. For example, feel free to read my recent article on Electronic Arts' CEO John R.

    In this case, however, I didn't see anything especially terrible about Accuray's CEO. Do you have any specific criticisms about him, other than the decline in the stock price? If so, please feel free to share your concerns. While a company's stock price is an important barometer of executive performance, reasonable people understand that many companies have experienced major declines in their stock price over the last three years, not just Accuray.

    When a company is small, even one mis-step can be fatal. As a result, if you believe CEO Thomson is too conservative, then we disagree on the level of risk appropriate for a small company.

    Finally, you are incorrect when you allege that I have somehow benefited financially from my review of Accuray's shareholder meeting. Your willingness to make such allegations without any evidence whatsoever gives us excellent insight into your credibility, or lack thereof.
    Nov 26 10:04 PM | 3 Likes Like |Link to Comment
  • Electronic Arts: John Riccitiello's Reign of Pain [View article]
    Correction: third paragraph from bottom should be changed from:

    "A few years ago, after Riccitiello became CEO, he apparently stopped the practice of showing EA's usually fantastic annual video and basically sanitized the normally fun annual meeting."


    "Last year, EA didn't show its usually fantastic annual video, which basically sanitized its normally fun meeting."

    EA showed a video in 2008 when Mr. Riccitiello was CEO, but it did not show a video in 2009.
    Nov 20 12:26 AM | Likes Like |Link to Comment
  • Electronic Arts: John Riccitiello's Reign of Pain [View article]
    Two pictures from EA's campus here:


    The first picture, which I found in EA's small video game center, is one of my favorites. It shows Jordan playing a very old video game on what looks like a 386/486 computer.
    Nov 14 12:24 PM | Likes Like |Link to Comment
  • Has Brocade Gone Up Too Far Too Fast? [View article]
    Update: on September 7, 2010, I sold all but one of my BRCD shares. Will I regret my decision? Perhaps. But as I said earlier, I am risk-averse, especially after seeing a stock bounce higher so quickly.
    Sep 7 03:47 PM | Likes Like |Link to Comment
  • Has Brocade Gone Up Too Far Too Fast? [View article]
    @Sumati: from what I understand--and please correct me if I'm wrong--many existing entities have hardware that uses Fibre Channel. While Ethernet appears to be the future winner over Fibre Channel, most companies will not destroy their entire hardware systems to buy an Ethernet-based system. Instead, FCoE--which continues to incorporate Fibre Channel--has become an interim solution for most companies. In short, Fibre Channel may not be *the* future, but it is still going to be used by many, many companies--especially mid-sized and smaller companies--that don't wish to overhaul their existing tech infrastructure. If BRCD is one of the leaders in Fibre Channel, why wouldn't it continue to do well over the next few years?

    Also, if you're interested in sharing some of your knowledge, I posted several questions on Fibre Channel v. Ethernet here:


    The responses I received didn't seem too concerned about Fibre Channel; however, I would appreciate your input as well (feel free to post a comment at the link).
    Sep 4 10:06 PM | Likes Like |Link to Comment
  • Has Brocade Gone Up Too Far Too Fast? [View article]
    @Sumati: an "overall tech surge"? If you'd bothered doing a chart from July 23, 2010 to September 3, 2010, you would see that BRCD outperformed HPQ, EMC, QLGC, and CSCO. While CSCO dropped 10%, BRCD increased over 10%. Furthermore, Juniper also underperformed BRCD from the date of my original post.

    Finally, as Mr. Klayko might say, reports of the death of FibreChannel have been grossly exaggerated.
    Sep 3 11:23 PM | Likes Like |Link to Comment
  • Has Brocade Gone Up Too Far Too Fast? [View article]
    I became stressed when I remembered the old maxim: "Markets can remain irrational longer than you can remain solvent."

    @racecaralz: re: EMC and other larger tech companies not wanting to expand their hardware offerings, many tech companies would agree that the growth is on the software side. For example, I heard HPQ's former CEO, Hurd, say that HPQ's growth was coming from applications and he expected that trend to continue. At the same time, if a larger company was concerned about Cisco being its only supplier, it might resolve the monopoly/supply issues by buying BRCD. Spending a few billion dollars to prevent a Cisco monopoly might seem desirable to some companies, including EMC and IBM. Just my two cents.
    Sep 3 01:26 PM | Likes Like |Link to Comment
  • Has Brocade Gone Up Too Far Too Fast? [View article]
    @Ibusyguy: Apparently you're busy, but do you care to elaborate on why you think I am "wrong"? :-)
    Sep 3 05:05 AM | 1 Like Like |Link to Comment
  • At the Precipice: When Everyone's Fearful ... Sell? [View article]
    You've set up an "either/or" S&P 1010 or 1130 premise. In doing so, you've neglected another possibility--that the market stays within a range of 1010 and 1130 until after the elections or until after next year, when more data becomes available.
    Aug 25 12:01 PM | 2 Likes Like |Link to Comment
  • Weighing In on Cuban vs. Ritholtz [View article]
    @Wall St. Cheat Sheet: thank you for your comments. I truly hope we don't see another stock market drop similar to 2000 and 2008, but sentiment sure seems pessimistic.
    Aug 25 11:37 AM | Likes Like |Link to Comment
  • M&A Activity Is Not a Broad Buy Signal [View article]
    Do you have any thoughts on Brocade (BRCD)? Oracle's Ellison last indicated he wasn't interested, and HPQ/Dell seem to be moving towards more software-based companies. Also, EMC has publicly stated it is looking at sub-billion dollar purchases.
    Aug 25 03:56 AM | Likes Like |Link to Comment
  • Why You Should Put Your Money in the Bank (and Not in the Markets) [View article]
    It's interesting that Barry Ritholtz chimed in regarding Cuban's comments--more at the link:


    Ritholtz questions Cuban's advice, asking about Cuban's investment edge.
    Aug 25 03:51 AM | 1 Like Like |Link to Comment