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BlackBerry Limited Message Board

  • Xtahce Xtahce Aug 24, 1999 2:49 AM Flag

    OT for D.Stewart and the Cdn Investor

    This is for the Canadian investor to view as we
    tend to have some Portfolio Managers up here who are
    way off base at times.

    Mr. D. Stewart
    (Portfolio Manager of the "Navigator Canadian Technology
    You have been down on this stock from the get
    go, I remember you saying a while back, on CITY TV,
    that RIM should be trading no more than C$10-C$20
    (kind of a wide range, don't you think - real safe
    target on your part) when it was trading at C$26. Then
    yesterday evening, on the Canadian "NewsWorld Business
    News" when asked what you are selling (I don't believe
    you ever owned RIM shares, or if you did you got
    caught selling too early) you stated:

    "I have
    never in my life encountered a device company, which
    essentially is what Research In Motion is, trading at these
    kinds of lofty price to sales multiples(P/S). This
    device company is trading 20X well over next years
    revenues. (so you know what next years revenues are?) I've
    never seen a company be able to sustain that value.
    Good company but I can't take that price." True you
    praised every inch of the company right to the strong
    core of management, but you really went off the deep
    end on that concluding statement.

    First RIM is
    not just a device manufacturing company. You have
    some homework to do when it comes to how technology
    stocks trade and what they actually are.

    In the
    next breath when asked what you liked and are holding
    you praised the Canadian JDSUniphase as being "Priced
    to Perfection" and then moved on to Teklogix
    (TKX:TSE) saying "this is a turnaround stock that was
    C$4.00 and although I own allot of it, it had a terrific
    run and it's at the C$21 range, I think we can see
    C$30-35." Now I like JDS, points to you here, but they have
    a negative EPS and you can't equivalate a P/E, thus
    no score point. RIM has a positive
    EPS therefore you can have a high P/E multiple.
    Teklogix was recommended by you over 2 months ago on CITY
    TV when it was trading at C$22.75, you also gave
    that C$30-35 target and yesterday it closed at
    C$ score point again. I agree that this is a fine
    company but this is not a emerging stock, unless you
    consider that the Bar Code wireless industry is where
    things are at today I am not one for dishing a stock,
    but you asked for it Duncan!!!!

    I can't
    believe you made these statements on Canadian TV, thank
    goodness it wasn't on any US program as you'd never be
    invited back again, they don't like it when they invite a
    supposedly informed investment strategist only to find that
    one has not done his homework and just talks off the
    top of one's head. What
    an embarrassment you are
    to the Canadian investor. This is now trading as a
    NASDAQ stock and if you're getting razed by your
    clients, who are investing in your Navigator fund, for not
    buying RIM in the early stages or for selling it too
    early, don't put it down in order to buy in at a lower
    rate. You should just continue to degrade Nortel, you
    know like when you roughly said, on CITY TV, that
    "this company needs major announcements on orders
    everyday just to sustain it's share price, if they cease
    to make these daily announcements they will have a
    hard time sustaining their share price."

    I am
    not blind to RIM's performance nor am I in love with
    their stock as I realize that it will drop later and
    then rise again until they once more file yet another
    profitable quarter and have released more news of money
    making ventures. Then everyone can wipe their brow to
    jump back in. Sure sell high buy low, but RIM has
    entered a different realm one can accurately
    predict where it is going.....NO ONE Stewart.

    your blinders off and stop playing in the sand


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