open message to intelligent shorts (including spoiler)
Maybe there are two types of investors that actually share a common short term view. Shorts believe that GPS is a commodity and margins will continue to decline as well as the rate of growth in sales. Longer term they think that Garmin's applications will become the "Bayer" version of aspirin in the GPS world.
Longs agree the market is becomming more competitive and that margins will decline as well as the rate of revenue growth. They see a different future in terms of GPS applications. They see a company with a focus and a determination to be the best in the industry. They see an industry that is unfolding with opportunities that I personally hope are actually there. In the long run shorts believe Garmin is Bayer, Longs believe Garmin is Garmin.
In a nutshell, I think traders that aren't afraid to take short positions can do very well with Garmin. I don't have the stomach for the volatility and will wait for the longer term payoff that will come if Garmin is more than aspirin.