Roger McNamee on Rukeyser:
Roger McNamee is in my judgment about the best man
alive in the technology area. What
do you think
about the Nasdaq moves this past week?
McNamee, General Partner, Integral Capital Partners:
feel I have a sprained neck from watching the Nasdaq
this week. Like watching a tennis game with
head turned sideways. I think we are really in the
kind of environment where volatility can be
as a permanent part of the landscape. And I think
the good news here is that the fundamentals
the technology universe are the best they have ever
been. I think you have large stable businesses
are going to continue to grow this year and I think
you will see in the stock market this
continuously and think people should buy the dips and I think
that when they get up there,
if there are stocks
they feel uncomfortable with they should just sell
The insight I can give you on Dell is that
the company continues to gain market share and as far
the issue of the stock- it's not the growth
of the stock but rather the expectations that some
investors have built into the stock in
recent months. I would be a buyer of Dell and in fact I
this would be a good time to be a buyer of
all the market leading technology stocks.
I agree that Mr Macnamee is one of the best of
the TV experts. I have followed his advice over many
years (I am long Dell for the avoidance of any doubt).
The trouble with the Dell board is that it is taken
up with messages which are just a waste of time ie
"Its going to 140 eom".
The key point for Dell
investors is what the other investment houses think- we
have only heard from 3 negatively (including Piper
Jaffrey some months back)- the Merrill Lynch, CSFB and
warburg Dillon read comments have not been given much
coverage. However, we do not have long to wait. Someone is
right and someone is wrong. Everyone is entitled to
their opinion. Either BBRS/ Salomon or all the other
investments houses are wrong.
Why people think sending
an email to BBRS will solve anything is beyond me.
These BBRS guys are simply giving their opinion. They
do not deserve the abuse they have recieved on this
board or by email. However, in saying that, the problem
we all have is that these are never accountable.
They never lose their jobs for a wrong. As Cramer
says, in the financial world, NFL stands for "Never
Best of luck to everyone for
If the press release was intentionally false, and
intentionally meant to temporarily drive the price of the stock
down, then it was illegal. We can press charges Tuesday
if revenues come in at 5.7. The SEC will have a
field day if this is the case.
If the press
release is true, and revenues come in at 5.2 or lower,
then I'll thank the guys for correct information. But
then the SEC will ask (as I will) - WHERE DID THEY GET
THEIR ILLEGAL INSIDE INFORMATION?
He didn't seem at all concerned about the situation. And, seeing how he responded, one tend to get this feeling that he's very positive about Dell and all other technology sector stocks.
This does little good for a person like myself
who is not a subscriber to this service (SI).
Fortunately I believe that this is a great time to buy more
Dell. I doubt that Dell will not excede .31 cent a
share in earns that first call called for. I smell a