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Author: Chapman208 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 9255  
Subject: Famous last words Date: 8/29/2000 12:21 PM
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IBM is up around 133, within spitting distance of the all-time high (around 138, set last October). So what happened to all the IBM bears and naysayers? Why, just recently, some of them were certain that IBM investors were about to lose their shirts, and Lou Gerstner was ripping off the stockholders:

Masonkelsey: 6/27/00 - "It is not to late to sell IBM and buy SUNW." (http://boards.fool.com/Message.asp?mid=12805601)

Mogrits: 7/10/00 - "Saw some recent posts about price falling. You ain't seen nothing yet. … Once Emperor Lou lost the trust, it's hard as hell to get back. BOD needs to replace the Loseter and soon! " (http://boards.fool.com/Message.asp?mid=12879999)

Mogrits: 7/12/00 - "As far as Lou being one of the top execs. in the country - - well I guess that's why IBM dropped off the list of 100 Most Admired and Best Places to Work lists some years ago and won't be back on them anytime soon if ever. … Lou is the ultimate huckster/con man and will certainly be recognized as such in the near future. … And oh, I don't anyone bragging just lamenting the fact that an American corporate icon is falling so low, so fast." (http://boards.fool.com/Message.asp?mid=12896679)

(Me: Hmm. Is the "100 Best Managed Companies" list, for the fifth year in a row, good enough? (http://boards.fool.com/Message.asp?mid=13185422))

Janetpuppy: 7/13/00 - "None of us have ever claimed Lou isn't good at propping up stock prices; the core issue is how is the company REALLY doing, and will it survive after the wizard behind the curtain is unveiled. … signed by Janet, who is now heading back to Yahoo so all the Fools can continue congratulating themselves on how wonderfully IBM is doing..." (http://boards.fool.com/Message.asp?mid=12910017)

(Me: Hmm. Looks pretty good to me…. 5 year chart: http://quote.fool.com/chart/chart.asp?time=12&uf=0&compidx=sp500%3A3377&comptick=&freq=1dy&maval=0&type=128&symbols=IBM&currticker=IBM&submit1=Draw+Chart; 2 year chart: http://quote.fool.com/chart/chart.asp?time=9&uf=0&compidx=sp500%3A3377&comptick=&freq=1dy&maval=0&type=128&symbols=IBM&currticker=IBM&submit1=Draw+Chart; YTD chart: http://quote.fool.com/chart/chart.asp?time=19&uf=0&compidx=sp500%3A3377&comptick=&freq=1dy&maval=0&type=128&symbols=IBM&currticker=IBM&submit1=Draw+Chart)

Mogrits: 7/15/00 - "Contrary to popular opinion, Lou is staying up late in der Fuehrer bunker trying to "massage" the numbers for the 19th afternoon announcement on 1H/2Q. The "Loseter" may pull another rabbit out of the hat but I think not. It's Gotterdammerung time if the analysts finally wise up and time for the dirt nap." (http://boards.fool.com/Message.asp?mid=12927263)

(Me: I guess the analysts haven't "wised up" yet. They keep upping the share price estimates for IBM: http://biz.yahoo.com/rf/000828/n28464032.html, http://www.cnetinvestor.com/newsitem-bloomberg.asp?symbol=99572670&Ticker=IBM, etc. So apparently they are not ready to start shoveling dirt over IBM's corpse just yet….)

We haven't heard much from these folks lately, have we? I guess it's not as much fun to kick IBM when its stock isn't down, is it?

Mark.

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