Mark Twain would be proud.... But I disagree. "Iffen you bought a pig in a poke and don't like the pig, get rid of the poke" is true....BUT, to be a good citizen, you owe a duty to others to tell them the poke is puke!
Aye ben reedin yur posts fur sum time an ah cum tu beelleeve yu be purtee negatory bout PLUS an neer bout as dum as ah bee. Iffen yu got nuthin gud tu ever say howl cum yu dont jus yak shut fer a while. Mah late departed daddi use tu say " A man whut never got nuthin gud to say aint much of a man". Iffen yu dont lik the pig which be in the poke yu jus need tu get yu anuther poke. Maybee yull get a hawg in ther an bee happi. Enee way jus a few thoughts frum out hyar in the wilds of Dulles Expwy whichen leeds deereckly tu Grinder Switch.
Business growth through acquisitions is not the same as buying revenue. Charlie Wang bought technologies, he bought companies with products and intellectual property. Not a few mid tier resellers with shrinking customer lists.
PGN buys revenue!
Hotchieabc, As a long time investor and poster of ePlus, your facts are pretty much on the mark. I wish ePlus had grown more than it has, but I am not going to sell either.
I get upset when people trash this company for emotional, not rational reasons. (not refering to you)
The only thing I disagree with is your statement about finding someone within ePlus to state something positive about the company. In all my years experience, unless you are the CEO or president or someone else high up, you rarely have good insight on what the company is planning to do. And being innovative does not guarantee the company will be successful. So I don't need someone within ePlus to tell me if he/she thinks the company is or isn't innovative. Give me a sales team that can sell freezers to eskimos. They are worth more to a company than innovation. (That is just an example. I don't know how good or bad their Sales team is. But ePlus success will rely more on them than innovation.)
Lastly, business growth through acquisitions isn't my prefered way of growing a company, but it has worked for other companies, notably CA. (and no I don't think ePlus will be another CA, just using it as an example)
I am not pumping ePlus as much as I am defending my reason for keeping my investment there.
I find it interesting that anytime someone who has real business knowledge of the company, and not just investor type knowledge, they get slammed as being wrong or shortsighted.
I have yet to see a post from someone who works at EPlus who has stated what a truly innovative place EPlus is. If this is a really a company that is building process changing software that could revolutionize the business world, I would expect to see someone who could support the view that those who hype EPlus espouse.
The facts are these:
The company is a good, solid company
It is primarily now a hardware reseller
It is also a leasing company
It has a desire to be a software company that gets usage charges based on volume of business transacted through their software.
Other facts are:
The stock hasn't really been a good investment, unless you were able to get it when the overall market fell down.
The business growth has come from, to a large degree, acquisitions.
The market cap on the company is less today than it was 4 years ago, even after all of the acquisitions.
So, if this is your recipe for a "great investment", then so be it. The facts support that it's a good company, but a mediocre investment.
No matter how much you want it to be different.............
Nice try...still gainfully employed. I just refuse to buy into PGN's bullsh*t.
If you took your heads out of his arse, or your own, you would see that he has been doing nothing but blowing smoke. This company is a sham.
I am always alarmed when companies promote themselves as something that they are not. They are a hardware and leasing company. That is not a bad thing. It is just deceptive and despicable to present yourself to investors as something you are not.
I got under the hood of this turkey. You have a bunch of spineless, kool-aid guzzling wimps who cow-tow to Norton because if they didn't make a career out of sucking up to His Arrogance, they would be night managers at the Dairy Queen.
He buys revenue and failing software developers (or, more acurately - vaporware developers) and sells it as growth to gullible fools such as you.
He is trying to rebuild Pacificorp (without admitting it to the street)....but the marketplace has changed! Either the poor old man hasn't realized it, or he knows he could make self deluded, psuedo stock experts, such as you and your ilk, think that he can.
I think it is the latter. Have a nice Labor Day weekend!