Loving life
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mschere .. It amazes me that folks here still use insider sales (whether 10b5-1 or not) as a metric for insider confidence for the company's future. It reminds me of the "eyeballs" metric for internet site success used back in the 1990's that couldn't have been more off the mark as a predictor. The more appropriate metrics for how senior management feels about IDCC's prospects are the leaving/firing of non-producers, the staying of contributors who have bet their financial futures on doing so, the willingness to stare down larger opponents, the ability to develop plan "B", not to mention plans "C-F", upbeat CC's in the face of interminable legal delays, etc.
Why some here insist that IDCC's management should focus on what actions are best for their IDCC holdings rather than spending 100% of their time thinking about what will ultimately make IDCC a successful company is beyond me. In a like manner, I can't understand why anyone here would spend even one minute thinking about how IDCC should be managed when that very same minute spent instead on considering whether they should buy, sell or hold IDCC has orders of magnitude more probability of making their personal IDCC investment more profitable.
How many here have considered that electing to use a 10b5-1 plan is the ultimate insider endorsement for IDCC's future success, i.e. they believe the stock is going to go up for the foreseeable future and therefore there is no need to try to time their sales to best advantage.
MO,
Danny
Frank .. Now THAT is funny .. are you sure you are a CPA (just kidding).
Take care,
Brad
Loop Nice to see you back .. hope your friend is convalescing well and the prognosis remains good.
The position of our CFO, stated twice as I recall and the transcript should confirm, is that reimbursement was not even close to the rabbit family. In fact, he said such matters were a normal course of the business of IDCC, ie. winning some legal fees and losing some legal fees. Thus, it is time to put these rabbit pellets to bed and rely on the categorization of our CFO.
Besides, no one knows better than you that IDCC bet all their money on the tortoise in the race a long time ago.
Take care,
Danny
e500 .. Actually I disabled my ignores (14) some time ago .. don't remember when .. what with my ignores and hiding responses to my ignores I had hardly anything to read anymore LOL. That must have been some crushing event for you when I put you on ignore what with you having it in your memory bank for this long.
Danny
dmiller .. Yes, I saw that and it was nice of him to respond I thought BUT the "first quarter rabbit" comment was something I would expect of you not a CPA with Ronny's credentials.
MO,
Danny
bulldzr .. I just want an explanation of "...first quarter rabbit."
Nice to see that you are still calling them as you see them. I had no problem with anything in Ronny's post other than the "first quarter rabbit" comment. Sounded like sour grapes to me, as well as unprofessional, from someone who admits to having exited the stock and sees no reason yet to get back in and wanted to make sure everyone here knew that the run-up today was based on "smoke and mirrors."
Your advice to Dish about keeping his eyes out for his real enemies is spot on IMO.
PS Nice to see you posting .. can't get enough of Mickey's picture perfect swing.
MO,
Danny
Last .. Haven't a clue but right now I'm happy that we are only covered by lesser known analysts who don't have big egos and axes to grind.
Danny
Dd .. Welcome to the world of "sound bite" investing. This is a situation where the analysts can make money for their clients with a look at what's behind the numbers.
Danny
OT Mainelefty .. The Marathon & a morning Sox game .. Paul Revere would be proud!
Send me an e-mail btschaaf@mac.com .. and maybe we can get together for lunch or a Seadogs game.
Take care,
Brad
David .. You need read JD Gator posts again.
He is not the only one .. here is the link:
http://investorshub.advfn.com/boards/read_msg.asp?message_id=28622880
MO,
Danny
OT Mainelefty .. Where do you live in Maine? .. I live in Damariscotta
Danny
JD GATOR .. One thing I hope to be able to add to the board is something I have had to learn the hard way: There is no sense in becoming upset over that which we have no control. What can we control? We can buy more shares, or we can sell our shares. Sometimes we can even thwart an an attempt to grant more options to our esteemed BOD. What we can't control is who's gonna be left standing after the dust clears from the most important battle in the history of IDCC. So, either buy shares and root like hell for an IDCC victory, or sell put it behind you.
Where have you been? What a breath of fresh air! Finally, another individual investor on this board that actually gets what investing is all about (see my bolding above). You are right about Loop, Whizzer, and Ghors RE: adding much to their legal interpretations BUT, most importantly, you, like them, have a clear understanding of what you, as an investor, can control and what you can't.
Thanks for your posts .. don't stop now you are on a role.
MO,
Danny
pochemunyet .. That is the fine print in the margin agreement that most people don't read .. broker makes margin interest + stock loan returns .. nice work if you can get it.
MO,
Danny
OT Loop .. You cannot hit what you cannot see.
I'm reminded about one of Bob Feller's first games. Can't remember who but the batter, who was well known for his hitting, took three straight called strikes and on his way back to the dugout he turned to the ump and said "that last one sounded a little low."
Danny
Q .. I'm guilty of hyperbole again .. was just trying to point out that GTC means Good for an extended period of time until executed or cancelled. You are right that most brokers have a maximum time where GTC orders expire even if not cancelled.
MO,
Danny
dmiller .. GTC (Good Till Cancelled) is in force forever until it is cancelled. Could be that the broker failed to execute it and the client insisted that they were owed a print.
MO,
Danny
Count and Loop .. Excellent posts. Institutions pay big bucks for the kind of "color commentary" Teecee provided. They know that it can range from meaning little to meaning a whole lot .. and, most importantly, it is a scarce resource that at times can trump published materials.
Imagine watching sports with no color commentator. Your understanding of what is "really going on" in the game at a given point in time would be severely diminished IMO.
MO,
Danny
Loop .. I'm not a fan of these kinds of e-mails BUT, once again, you have demonstrated how to write one that might actually have a positive effect.
Thanks for all you do here.
MO,
Danny
Jim .. Thanks .. excellent, balanced and comprehensive report. Sounds more optimistic than the NOK CFO :>)))
MO,
Danny
Olddog .. Actually, we were equal partners and co-founders of our firm but there is no doubt that he would have unequivocally agreed with your assessment LOL.
Good catch on your part!
Danny
mainelefty .. I'm quite familiar with business people not following their lawyer's advice. We were involved in an NYSE arbitration with a disgruntled employer. I tried to tell my partner that we had a case that could go either way. Our attorneys were from Davis, Polk and Wardell .. a very well known and respected WS law firm. Robert Fiske (yup of Bill Clinton special prosecutor and "Prince of the City" fame) was the partner handling our side. The man was Loop-like in terms of his professionalism, insights and, most of all, his ability to communicate complex legal issues in terms that were understandable to the layman.
He told my partner from the outset .. at the point that the legal bill was VERY small .. that the odds of our winning were slim and none. My partner would not hear of it and insisted that we proceed. The legal bills escalated along with the diversion for many in our firm who were redeployed to provide every possible relevant scrap of info in the files favorable to our position.
Fiske took one last chance before going to arbitration to convince my partner to settle. But, there is no ego like a WS ego so damn the torpedos, full steam ahead. We got our clocks cleaned. The best part is that my partner refused to pay the bill because, and I quote, "Fiske f****ed up." Surprise, surprise, he lost on that one,too.
MO,
Danny
mainelefty .. Terrific dead on the money post .. a must read. I've been in a couple of situations where the need to keep tight and the concern over leaks from "parties outside the control of the parties" approached paranoia by the time negotiations were down to the short strokes.
The part of your post I like best and the one which should put a rest to some of the more off the wall rationales for the 8K that have appeared on this board the last couple of days is this (my bolding):
Second, there has to be a deal. The danger of stock manipulation from hype is too great. And the deal could not be subject to substantial revision after the announcement or subject to occurrence of foreseeable subsequemnt events - in other words, no remaining dealbreakers to be resolved. As well, the time frames to deal completion would have to appear to be somewhat lengthy, so that subsequent activities would make the existence of a finalizing deal more and more apparent.
MO,
Danny
Loop .. If I had to guess, Nok had some major outside number crunching firm involved in the settlement negotiations which would have given them a leg up on other investors due to the knowledge of the projected numbers involved globally over the next 5 years (assuming that this is the initial term of the proposed license).
I hadn't thought of that one but surely with a deal this big that has been going on for so long, the potential for a leak has been building significantly. I'm not at all sure that IDCC had any particular group or individuals in mind when they decided that information about progress might leak and put existing investors at a big disadvantage. I'm guessing that it was obvious that the risk had escalated considerably over the last week.
MO,
Danny
mschere .. Hmmmm .. any chance this could have caused negotiations to move "sideways" for awhile?
MO,
Danny
GAB .. Thanks .. I missed that and I BELIEVE olddog, too .. Hope he never is commissioned to prepare a dossier on me LOL.
MO,
Danny
pochemunyet .. Never underestimate the egos of the management of NOK. NOK brings new meaning to the phrase, "No one likes to lose."
MO,
Danny
Loop .. Yup, he definitely out Yogied, Yogi LOL. Of course, we must remember that Yogi is in the HOF because of his ability to play the game, not his occasional Yogiisms.
PS Can you believe a season opening baseball opener at 6:00AM!!
MO,
Danny
JIm .. In this situation the comments by ANYONE associated with the management of the company (NOK) that has basically agreed to surrender after a LONG battle are taken with a grain of salt by professional investors. NO way #1 NOK would agree to a settlement with little insignificant IDCC unless they had no choice. Of course, they are going to spin it as fast as they can to get the egg off their faces .. every company would, including IDCC. Those today who read bad news for IDCC into the NOK CFO's VERY wishy-washy comments juxtaposed to IDCC's pretty definitive 8K, I think will regret having done so.
MO,
Danny
Count .. As far as I know, interpretations of body language (smiles etc.) do not require disclosure under FD nor do off-hand comments like Shay made about April 11 which are subject to widely differing interpretations. If that were the case, every meeting between sell-side analysts and company management would have to be video taped and distributed to all investors immediately after the meeting took place.
I've thrown out my thoughts about why they issued the 8K but I'm as clueless as you and everyone else as to the real reason. The difference between us is that I don't obsess about an event over which I have no control or even know with any degree of certainty the details thereof. I am far more puzzled why you and others insist on reverting to this kind of manic behavior every time an IDCC event has even the slightest degree of uncertainty about it. Do you really think that you are going to come up with THE answer, one upon which you are willing to make a personal buy, sell or hold decision? If not, why are you (and others) wasting so much time and emotion on it?
No you are not a WS expert .. not even close. I'm not one either but I know a hell of a lot more than you do about the subject. Why is that so hard for you to accept? I have no trouble accepting that I don't have a clue about the relevant legal matters, accounting issues, wireless technology, etc. So, I rely on the views of Loop, Wizzeresq, Ghors, et al on legal issues, you, Dd, TWFG, Ronny (in the past) et al on accounting issues, DR, lastchoice, et al on technical matters. On management issues I keep my own counsel because I've been there. You see, Frank that is what WS experts do, they rely/accept the views of individuals who are experts in areas they are not. Most importantly they try hard to avoid making conclusions in situations where they don't even know what they don't know. That certainly is not the case with you and others here.
Your baseless cynical assertion that I believe management personnel never make mistakes is really getting old and insulting. What I do believe, from much experience is that it is extremely difficult for someone on the outside looking in to render an accurate assessment instantaneously as to management's competence on a given event like the issuance of the 8K.
Now, the building of something monumental out of whole cloth has never been demonstrated better than today. Let's take a look at the ACTUAL quote that started today's frenzy a la the "telephone game":
I'm a little less optimistic than the market implied yesterday,'' Simonson said today in an interview in New York. Call me crazy but I'm having a real hard time seeing that as proof positive that IDCC should not have issued the 8K because Teecee and ELI-R posted their reaction to Shay's body language and off hand comment. AND, if in the end they interpreted it correctly why aren't you ecstatic about the possible heads up that only readers of these boards got? It will work out no matter what .. if the basis for a settlement is there .. I definitely think it is .. it WILL happen no matter how NOK spins the 8K.
As for your opinion of my WS knowledge and whether it is of value to folks on this board, I couldn't care less what you think. You see, I know what I know and I know what I don't know. Those who are not willing to say the same would not last a day on WS (secret message: that be you, Frank).
MO,
Danny
dmiller .. If idcc did indeed file the 8k due to shays comment to teecee, he should be reprimanded imo.
OK you win hands down in the contest over who can come up with the most ridiculous reason for the 8K and let me tell you there was some REAL competition there for awhile.
Do you folks ever wonder if professional investors spend their days musing over ad nauseum, being upset about and totally depressed by a couple of words from NOK's CEO. Hint: THEY DON'T!
MO,
Danny
Dd .. And you criticize Mschere for connecting the dots LOL! I'm guessing you got an A+ in creative writing. We all have our roles on this board I guess .. I nominate you for Chief of Knee Jerk Reactions. You have had more of them on these boards than any ten other frequent posters put together.
MO,
Danny
Jim .. Everyone needs to calm down and chill out. I can't believe the over-reaction based on what the NOK CFO had to say. Yesterday the NOK spokeswoman would only confirm that they were in talks with IDCC and made no comment about how they were progressing. The CFO said about the same thing today. If the shoe were on the other foot IDCC would be saying the same things.
Until I see an irate PR from IDCC to the contrary I'm assuming that they recognize that NOK has got some face-saving to do here. They have shareholders who might just be wondering what this whole long drawn out affair was all about if they are now going to settle. It is beyond me how anyone can think they know what has happened and what will happen from a few sound bites from NOK compared to the thousands of words that have transpired between NOK and IDCC on this matter.
A very wise man on WS once told me to never "borrow" trouble. His advice is valid in this situation.
MO,
Danny
gatticaa .. Quite often it is for "an imbalance of orders." In this case there would be far more buy orders than sell and the market makers would be put under onerous and unreasonable financial pressures to fulfill their obligations to make a market at all times.
Also, trading halts occur when there is significant news pending (up or down) to prevent insider trading and to give all investors a level playing field with a "heads up" alert.
MO,
Danny
nicmar .. You posting is almost as good as the news we got today .. the operative word being almost. To top off a GREAT day .. Clamcakes, are you out there?
Danny
Jim .. My request is to try and limit off topics and pizzing matches so we can attract some new investors that have technical expertise and other things.
AMEN!
Danny
JIm .. the greatest thing since 7-Up
The greatest thing since 7-up??? I'm sure Tom will use that at his next performance review LOL.
I know you couldn't be more sincere about that, but trust me you have no idea how HUGE an accomplishment your relationship with IDCC analysts truly is.
Danny
DD .. Danny, can you come up with any thoughts/reasons for filing that information today?
1. The deal is done and WM, et al couldn't contain themselves any longer. Think about it, if you were them with all they have gone through would you be able to hold off announcing it .. think Shay's Cheshire chat grin to Teecee and ELI-R on Thursday.
2. Nok's "spin, spin, spin" PRs on this matter from the beginning have got to have been eating at the entire management team not to mention all employees.
3. If #2 is wrong refer to #1.
MO,
Danny
DD .. The reason I say it must be done is because the potential negative to IDCC sure outways the positive IMO. If they did it just to help keep the stock from dropping today, it could have come at a huge cost if the deal isn't already done.
There is NO chance, none whatsoever, nada, zip, zero that IDCC released the 8K today just to support the share price. Even I could handle the shareholder class action suit on that one. It would be a VERY career limiting move for WM and he has had the intestinal fortitude to hang on this long in the face of rising criticism for not producing what he promised. What possible reason would cause him to take a chance of destroying his credibility forever by approving the release of a risky 8K to support the share price at this point? Nobody could be that dumb and WM is a long way from being dumb.
MO,
Danny
Jimlur .. Maybe DannyDetail who has a great understanding of how Wall Street works would help us out and let us know how the analysts from the big firms will look at this and how long will it take for them to digest this and react?
I've been away from WS for almost 13 years. A lot has changed I'm sure .. particularly when it comes to a greater emphasis on trading rather than buy and hold .. BUT buy and hold is not dead. What applied to buy and hold situations before I'm pretty sure still is valid. IDCC is a buy and hold stock now if I've ever seen one and I can't imagine that the "big" firms won't clearly see it as such. It also, fortunately for us, is in that small segment of buy and hold situations that have VERY substantial upside in the NEAR term.
The only difference for us with the analysts from the major firms as opposed to our current analysts is that they are far less likely to provide you with their reports on any kind of a timely basis if at all. But it is far less important that we have that info because the die has been cast.
MO,
Danny
JIm .. I think that's great because will now get two bangs for our buck. When they release the real deal the stock will rock again.
Good catch. I hadn't thought of that but I bet IDCC did.
MO,
Danny