JIM

Hold On To RIMM

If Apple had only beat by .02, you can rest assured the stock would have been totally obliterated the next day. Just look at what happened with some misplaced concern over a slight change in growth rate for iPods, while beating by a country mile.

Consider what you're getting for the premium you pay for RIMM. A decreasing rate of growth?

Given that UBS can go up 11% after writing down 19 billion additional, and that Merril says it's fat with cash, and that people believe them, anything is possible today. We obviously want to admire the emperor's new clothes.

But 'possible' doesn't make it correct.

Was long RIMM, but it's just not worth the worry that their world is going to shrink.