As the lone, lonely bull posting on this board, I was prepared to be flamed like crazy after Peter's announcement (which caught me completely by surprise). I've been only modestly impressed by him as a CEO (partly because I have a built-in bias against sales CEOs), but it is still a negative, and I expected this to hit the stock a helluva lot harder than .06. Maybe the worst is yet to come, but I would be scared out of my mind if I saw a stock that I was short behave like this.
I'll admit, humbly, although given your arrogance it don't come easy ... that ADVS' flameout to single digit territory is taking longer than I once thought. (It's clearly a case of this detritus floating upward in a very strong market for anything tech-y.)
But, in my experience, when they make the capt. walk the plank, it's because they really HAVEN'T yet "flushed." Watch, wait (and remember how blind you still are as of 5/14/03) and get ready to digest a big dose of bad news -- news far worse than one incompetent getting shown the door with, no doubt, millions of shareholder dollars to compensate him for being unable to secure employment as cushy as that which he has had.
I openly acknowledge any possible outcome for the stock over the next 12 months, and you predict with perfect certainty a more than 40% decline, and I'm the arrogant one?
If my earlier comments exceeded your threshold of sensitivity, I apologize. I just get annoyed by promotional talk about positions, long and short. By all means (believe me, I mean that sincerely), if you've got information or a perspective about why this company will never recover its sales of licensed software (product issues, people issues, strategy issues, competitive issues, etc.), there are not many people more interested in hearing it than me. But if your rationale is simply that the stock was at $60 a year ago, and your gut tells you it's going down, I don't, personally, find any value in that, and am not embarrassed to tell you so directly.