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IBM - Some Thoughts a Day Later

Some thoughts about IBM (IBM) now that we are pretty much a full trading day removed from the earnings release.

 

First, IBM is no longer as relevant as it one was for the overall market or for the technology sector. IBM's heyday was the 1960s and 1970s. IBM was then replaced by Microsoft (MSFT) in the 1980s and 1990s. Now, MSFT has ceded its technological leadership to Apple (AAPL). Someday some other company will supplant AAPL. We may be years off from that happening.

 

Second, the revenue for IBM miss was not a miss at all. It was a failure on the part of analysts to properly factor in the impact of foreign exchange on their revenue estimates. Either the analysts are lazy or incompetent. The excuse that they do not have enough revenue data and geographic breakdowns for IBM sales is a “dog ate my homework” defense. It is not acceptable to me.

 

Third, IBM, the largest component in the Dow Jones Industrials (DJIA), a price weighted index, just proves how antiquated and out of touch with the investing public that the DJIA is. 


At the time of this Blog entry Scott Rothbort, his family and or clients of LakeView Asset Management, LLC was long AAPL stock and calls --- although positions can change at any time.

For more information on investing with LakeView Asset Management, LLC please visit the company's website

You can subscribe to The LakeView Restaurant and Food Chain Report newsletter at Restaurantstox.com


 



Posted By Scott Rothbort at July 20, 2010

GM To Buy Americredit - Where is the Outrage?

General Motors (GM) is buying Americredit (ACF) for $3.5 billion. It was two factors that got GM into trouble in 2008. First was its huge foray into consumer lending, particularly subprime lending. Second, were problems with its core auto manufacturing business.

 

Out of political and social necessity, along came the US Government and bailed out GM and GMAC. GMAC is trying to rebrand itself under the brand name “ally”. GM was supposed to slim itself down, get away from risky financing and get back to making cars that the public wanted to own. Last years “cash for clunkers “ program helped to kick start sales of US made cars. 

 

So, now GM relapses and get deeper into higher risk financing. Where is the outrage? Why is the US Taxpayer, Congress and the White House allowing GM to buy ACF?

 

It just goes to show you that credit is cheap and in the midst of a major bull market.

 

At the time of this Blog entry Scott Rothbort, his family and or clients of LakeView Asset Management, LLC owned GMAC debt securities --- although positions can change at any time.

For more information on investing with LakeView Asset Management, LLC please visit the company's website

You can subscribe to The LakeView Restaurant and Food Chain Report newsletter at Restaurantstox.com




Posted By Scott Rothbort at July 22, 2010

Scott Rothbort

About Me :

SCOTT ROTHBORT

THE FINANCE PROFESSOR

 

Scott Rothbort has over 20 years of experience in the financial services industry. In 2002, Rothbort founded LakeView Asset Management, LLC, a registered investment advisor based in Millburn, N.J., which offers customized individually managed separate accounts, including proprietary long/short strategies to its high net worth clientele. He also is the founder and manager of the social networking educational website TheFinanceProfessor.com and a frequent contributor the TheStreet.com where he also writes a weekly article as The Finance Professor

Immediately prior to that, Rothbort worked at Merrill Lynch for 10 years, where he was instrumental in building the global equity derivative business and managed the global equity swap business from its inception. Rothbort previously held international assignments in Tokyo, Hong Kong and London while working for Morgan Stanley and County NatWest Securities.

Rothbort holds an MBA in finance and international business from the Stern School of Business of New York University and a BS in economics and accounting from the Wharton School of Business of the University of Pennsylvania. He is a Term Professor of Finance and the Chief Market Strategist for the Stillman School of Business of Seton Hall University.

For more information about Scott Rothbort and LakeView Asset Management, LLC, visit the company's Web site at www.lakeviewasset.com.

 


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