Here`s the book on Punkin, Biz. Back in the 90`s, when the AOL QCOM Board was better than a food fight, and intelligent posters like AjitC were to be found, Punkin was a flame thrower, pimping for IDCC. His point of view was that Qualcomm was going to die in 3G because their only product was "narrowband" CDMA, and that InterDigital was the prime holder of "wideband" CDMA IPR, and would "own" 3G, replacing Qualcomm in wireless importance. He stubbornly refused to invest in Qualcomm (instead, claiming he was short), and was counting on riding the self-proclaimed "baby Qualcomm" to riches once the market caught on to his reality.
While I took my QCOM position in 1997, and rode it to the moon and then back to only a great return, even at today`s subdued value, he stuck only with IDCC.A couple of years ago, I bought some IDCC, at an average of about $17.50, believing its stock would appreciate well in 3G, but certainly not with any illusion that it would ever become remotely comparable to Qualcomm.
Fast forward to H2 2006. IDCC has doubled in market cap since I bought it, and its 51+ mil shares are now worth a total of approximately $1.75 bil.(IDCC has never split)Qualcomm, on the other hand, has effectively split 16 for 1 since I bought it, has 1.6 billion shares, a market cap of $60 bil, pays a dividend, has licensed everyone for 3G, and has hordes of cash, growing revenues and profits, and generates great free cash flow.
Same old Punkin, the genius who fell in love with IDCC and in hate with QCOM, and missed a unique opportunity to make a lot of money on QCOM, throughout the years of his talking trash.He may know a lot about being an oil field laborer, but his understanding of where Qualcomm and InterDigital fit in the wireless world, as well as how to capitalize on those stocks, has consistantly been wrong.
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