William A. Ackman, the silver-haired, silver-tongued hedge fund mogul, gestured out the window of a 42nd-floor conference room at Pershing Square Capital Management in Midtown Manhattan. The view was spectacular, but Mr. Ackman’s arm extended not downward, toward the vibrant fall foliage of Central Park, but skyward toward the top of a glittering glass building […]
Funny title from zerohedge yesterday: “IBM now stands for I(‘ll) B(uyback) M(ore)”. Attached is chart from the article- stock buybacks and heavier debt loads are eerily reminiscent of 1987…
IBM is the “poster child” for the “balance sheet” recovery that has seen companies engage in financial engineering rater than invest in their business, said Stanley Druckenmiller at CNBC’s Institutional Investor Delivering Alpha Conference. Druckenmiller highlighted what he called a “shocking” statistic about IBM: their sales are what they were six years ago. Druckenmiller said, […]