"Tech (XLK, QQQ) is where cash goes to die," says Bill Smead as research shows massively...

|By:, SA News Editor

"Tech (XLK, QQQ) is where cash goes to die," says Bill Smead as research shows massively over-capitalized companies don't perform any better than undercapitalized ones. "There's not enough tension - you don't make very good decisions what to with cash when you've got too much of it - unless you're Warren Buffett." Example #1 is Microsoft (MSFT): "They've probably lost more money in the last 13 years in the online business than any single corporation  ... in history."