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$CRM Billings growth (rev + def rev) has tanked from 28.5% YOY to 17%! This should fall fast! Even Bend-my-ear-off Benioff cant change that! 2 days ago
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$CRM Billings growth (rev + def rev) has tanked from 28.5% YOY to 17%! This should fall off a cliff! Even Bend-my-ear-off Benioff cant up it 2 days ago
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$CRM remember this classic video. I want to buy Salesforce.com "I dont care" http://bit.ly/15T4uhK May 17, 2013
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Currency wars, the dollar and my question:
I can see the emerging rationale that QE2, a sharp jump in broad money supply, should depress the dollar, but two questions:
-why didnt QE1, where the fed bal sht went from $1tr to about $2tr in the space of 2ish years have a dramatic effect on the dollar? Isnt this in simple terms, a doubling of supply which should on a unitary elastic demand curve (keeping it naively simple) lead to a halving in the $ price? IS the answer 'there was a concommitant shift in the demand curve' to result in same'ish price? Is that evident from foreign ownership in $ assets?
-Of the $1 or $2 tr that was QE1, how much found its way in an increase in broad money. My thinking is this: there was so much impairment in assets on bank bal sheets and non-bank finance cos, that a major part of the credit creation simply filled the holes left by the impairments, leading to a far smaller increase in M1 or M3, whatever is the deviant aggregate today.
-it may well become more explicit in the FED's thinking, that a weakening dollar is in the national interest. But to what extent is this thinking beyond their control: if the rest of the world continues to demand dollars (cos there aint no realistic alternative!) why should the $ necessarily decline, even if the FED desires it? So the new world order is such that a sovereign govt DOES NOT have autonomy over its currency, even if they do own the printing press!! Anyone got an answer to that?
I would really appreciate thoughts on the above.
Thank you
Disclosure: no positions
WDC Some rationality re-entering the market!
Disclosure: long WDC, short CRM
Disclosure: long wdc
No Brainer CRM buys Ebix
IF Raina could accept to work 'under' Bend-my-ear-off Benioff, this acqtn makes perfect sense.
CRM would have a lot more weight and gravitas to their hot air, a perfect leg in the insurance vertical and on a eps share basis, it would look like pure genius, even if the offer was a 100% premium.
Disclosure: Long Ebix, Short CRM