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  • The Truth About IBM No One Comes Out To Say [View article]
    The fixed income securites that they sell is primarily used to "lend" to prospective or current customers that want to finance large purchases. Look at "Note J" in their 10-K and it lays out all the borrowing that they have outstanding and the rates being paid. Generally, IBM does not issue debt for operational purposes outside of the financing business.
    Jul 7 04:24 PM | 1 Like Like |Link to Comment
  • The Truth About IBM No One Comes Out To Say [View article]
    IBM doesn't borrow to do its financial engineering. Their debt actually is the source of their financing business. However, what you should be worried about is their declining free cash flow. It used to exceed net income and that was used to aggressive buy back the stock. That "excess" was courtesy of US tax credits which no longer exist. Now that free cash flow is below net income, they'll be hard-pressed to repurchase shares.
    Jul 7 02:21 PM | Likes Like |Link to Comment
  • Oracle: Sell-Off Is An Overreaction Given The Comforting Outlook [View article]
    A stock that's been trading north of 4x sales is far from a "value." Maybe over-valued is a better characterization when they've delivered net income (not EPS) growth of 3% and 2% for the last two fiscal years.
    Jun 22 10:28 AM | Likes Like |Link to Comment
  • Rackspace Hosting: Still No Fundamental Value Despite A 65% Sell-Off [View article]
    Yes, quite familiar with it. Maybe you can enlighten me as to where such information is reported or derived?
    Jun 6 02:38 PM | Likes Like |Link to Comment
  • Twitter's Stock Based Compensation Expenses Raise Another Red Flag [View article]
    This is nonsense!
    Jun 5 02:15 PM | 1 Like Like |Link to Comment
  • Rackspace Hosting: Still No Fundamental Value Despite A 65% Sell-Off [View article]
    Please, go forth and try to acquire via a service offering a complete OpenStack compliant system across compute, storage & comms.
    May 21 02:44 PM | Likes Like |Link to Comment
  • Rackspace Hosting: Still No Fundamental Value Despite A 65% Sell-Off [View article]
    Capex runs about 25% of revenue. You may want to do the math again.
    May 21 02:42 PM | Likes Like |Link to Comment
  • NAND Consolidation Should Benefit Micron [View article]
    The number of DRAM-NAND suppliers is down 60% from 2009 to 2013

    While the number of DRAM suppliers may be down, the bulk of the contracted supply remains with the same players. NAND is virtually unchanged as INTC's production was small and now with MU; Numonyx made mostly NOR.

    2) The same number of third-party memory retailers was around from 2009 to 2013.

    Third party retailers of memory are a tiny fraction of demand; more than 90% of output goes to contract.
    May 21 02:12 PM | 1 Like Like |Link to Comment
  • Does IBM Deserve A Low P/E? [View article]
    While you believe that IBM has an advantageous business model you're reading the tea-leaves incorrectly. Since 2005, IBM's top-line CAGR has been one-third of GDP. The EPS growth that has been delivered during that period is driven disproportionately by share repurchases. Those repurchases have been made possible by tax credits that have since expired (the debt is used for their financing business). No excess FCF, limited EPS growth.
    May 21 01:55 PM | 3 Likes Like |Link to Comment
  • Sphere 3D: Cloud Company Can't Rise Above Hype, Mistakes And Poor Management [View article]
    Haven't seen something this funny since Miniscribe was caught "shipping bricks!"
    May 20 03:32 PM | Likes Like |Link to Comment
  • Where Have All The Androids Gone? [View article]
    Gone to graveyards everyone...(Pete Seeger, 1955)
    Dec 11 02:54 PM | 1 Like Like |Link to Comment
  • Investors Should Steer Clear Of Intel [View article]
    All you need to remember is that TSMC, Samsung, et al are scrambling to pull forward their FinFET projects. They wouldn't be if they weren't afraid of what's about to come.
    Dec 2 12:18 PM | Likes Like |Link to Comment
  • BlackBerry: Strong Buy On Buyout Collapse [View article]
    Because it's going to be burning cash in the future!
    Nov 5 08:55 AM | 1 Like Like |Link to Comment
  • BlackBerry Execs Costing Investors Billions [View article]
    "What has happened to BlackBerry is unique. It is absolutely not a common occurrence."

    Digital Equipment
    Wang Laboratories
    BMC Software
    Software Publishing
    Sun Microsystems
    Apollo Computer
    Prime Computer
    Data General
    Tandem Computer
    Sequent Computer
    Corvus Systems
    Nov 4 01:44 PM | 2 Likes Like |Link to Comment
  • Might Be Riskier Than It Seems [View article]
    The share count increases are the result of in-the-money stock options.
    Oct 10 03:21 PM | Likes Like |Link to Comment