Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
It's an omen for financial engineering and the reality that eventually you have to produce results. You can't just add massive amounts of debt to do buybacks and under-invest in the underlying business and just hope everything works out fine. People like IBM because Buffett does. Wouldn't surprise me if Buffett dumped it like he did Tesco.
Comments
IBM, over the decades has done a wonderful job of re-inventing itself.
But, you can only do that for so long.