Barge I don't want to shred your message but......
Most of the DD that has mattered to the wavoids has been that brought after the fact. 95% of what you term obscure has stayed as such. The only thing this type of DD has succeded in doing is keeping investors to the party. The message attached to all of this DD is just wait it's going to be awesome, the same message that could have been applied back in 1999 still rings true today and is reflected in the shareprice.
The shareprice is the only true measure of those who are successful in an investment. Somewhere for this investor base that line became obscured and the want to be on the right side has seemingly taken more impprtance.
The real DD that should be taking place by this investor base should be laser focused on the financials of this company, the practices within this company and how this going forward affects your investment.
For years the focus has been on the space and the company has gotten a pass. From the inabillity to close a sale to the nepotism, to the precarious financial situations this company has continually founf themselves in seemingly every 2 years, the long shareholders have given them a pass, and allowed the company carte blanche going forward allowing themselves to bear the burden in the form of dilluted shares and pet projects that take money off the main focus of the company. Scrambls is just another in the line of these things. The argument is said that it will enhance the product offering. Why in the world are they trying to enhance any offering that hasn't even attain a pinkie hold on anything?
Getting back to the DD. This information has been the sole area that investors in this company have been able to attain to focus going forward. When you combine this with the incredible misguided view that has come forth from the conference calls, it makes for a very skewed view of how one sees the company and how the company is doing. The DELL reduction in revenue payments is glaring example. The longs touted this as a good thing because the payment on another product would rise. This product wasn't producing any revenues that were measurable and still haven't given the direction of the revenue from DELL over the last few quarters since the agreement was ammended. Yet the longs touted this as a good thing for wave. Same with the Samsung deal. And now with this Fujitsu deal which I glanced at and it looks like more of the same as Samsung.
To me these deals look like a gambler buying insurance at the blackjack table. Great move by these companies but where is the guarantee? Without the revenue attached this is like the kid being asked to sit for dinner at the adults table. Period.
Anytime any long gets frustrated by another long who speaks out they say sell, you made the decision to invest here or buy more. Plenty of those decisions were influenced but what has come to pass on these very boards and many longs have explicitly said as much. These longs are also quick to run from blame when a frustrated long suggests the same. The reality is that many of these investors view this DD that is presented here, and the very slanted and frankly uneducated cheerleading that accompanies the follow up posts as gospel. Is it any wonder given the track record of what comes out from Lee, Many longs have said you cannot believe what you here from the CEO, what does that tell you, and he has a track record that forms that opinion for better or worse.
Those who don't have the same view of this company have been outcast and have been right. That view could very well change, but what the wavoids have failed to account for that many of us did so very long ago could be the very thing that crushes there financial expectations. The very thing that should they change would turn many of us into the very same cheerleaders that have permeated these boards for years, that many of us were once.
And there's nothing wrong with that, that is investing, thats being a custodian to your own cash.
There is nothing wrong with demanding accountabillity to those you have entrusted with your cash. Growing your holdings to have them cut to be built up again and only to watch them be cut again isn't good stewardship in my view. This is a desperation move to keep the access to easy money flowing and that stream continues be the shareholders. And the carrot that keeps them holding on is the DD that is posted. The reality of that DD is much of it fades away, more of it pertains to the space, and 90% of it has returned zero to the shareholders. The 10% has kept those around throwing good money after bad. And it has a strong enough hold on enough people to probably allow business as usual to continue.
