Arnie Berman
Arnie Berman
again open optical software widely window
If this lasts, the IPO window will open widely enough that more software companies, not just optical technology, will again be participating.
capital markets week
One week does not a capital markets make.
companies earnings expect good ibm investors managing period
IBM was one of many companies that were good at managing expectations in a period where investors were conditioned to expect earnings surprises.
business companies everybody ibm missed solid year
IBM is one of these big bellwether companies where their business is so solid that in a year like 2001, where everybody was missing, IBM never missed a quarter.
august encouraged fed people raise rates
People were encouraged that the Fed may not have to raise rates August 22.
currently dire nearly prices stock technology
nearly as dire as technology stock prices currently reflect.
asset candidates cash flows healthy higher potential prices reflect several stable stock
LBO candidates have several characteristics in common: healthy businesses, stock prices that reflect little respect, stable cash flows, and potential catalysts to still higher cash flows (cost cutting, asset sales, etc.),
business companies confess habit last moments nasty quarter software
Software companies have a nasty habit of doing so much of their business in the last moments of the quarter that they typically only confess once the quarter has come to a close.
attractive bride groom neither nor
Neither bride nor groom is particularly young, attractive or reeking of potential.
december either estimates growth higher looks negative period positive row saw third
It looks like we'll have the third period in a row where revisions to estimates are positive. And top-line growth rates, which were negative for a while, will be positive for the third period in a row and will be higher than we saw in either December or March.
allowed charles finally happen marriage parker prince reminds union
This marriage of Hewlett and Compaq that's finally been allowed to be consummated reminds me a lot of what would happen if there were a union between Prince Charles and Camilla Parker Bowles.
associated best delivering downside earlier growth industry intel news pc positive rest returned surprises technology tends upside
A lot of the best news is associated with the PC industry. Intel has been not just a bellwether in the sense that it's big, but in the sense that technology as an industry has returned to positive year-over-year growth rates, and technology as an industry tends to be delivering more upside surprises than downside surprises these days. Intel started to do that earlier and more substantially than the rest of technology.
begging breaking clearly industries pace picks question represent tech whether
Clearly there are a lot of industries in tech that are just begging to be consolidated. So the question is not whether the pace of M&A picks up in 2005 but whether it will represent a breaking of the dam.
believed cycles economic great growth investors late matters secular tech
In the late '90s investors believed that tech was such a great secular growth story that cycles didn't matter. In this rebound, the only thing that matters is the economic context.