Do you know who invented financial SWAP? IBM.......duh...is it out of sudden? To be a great investor, we should do two things well. Buying and selling...the first part is easier than the second part. The more time you stay in the market, the more you agree...The second part is always harder than the first part in that you can always buy more until you reach the bottom while you can not always sell more once all of your shares are gone. IBM is extremely good at innovation but also selling. IBM has been the one, who gets more patents than any other companies since last 20 years. IBM likes to divest when the asset is on peak. 보통 사람들은 이게 얼마나 대단한 일인지 모르겠지만 보통 회사를 팔겠다고 하는 경우에 보면 이미 한물갔거나 한물 갈게 빤해서 아무도 비싼값에 살 의향이 없을때만 판다. 아니면 재정적으로 심각한 문제가 있어서 유동성 공급차 어쩔수없을때거나... 잘나가고 있을경우 집어던지는 경우는 정말 보기 힘들다. 근데 찾아보니 IBM은 이런걸 너무 잘해왔다. 슉슉 다 팔아재꼈구만... Reading the story of IBM, I am amazed by the previous CEO, Sam Palmisano. In 2001, HP bought Compaq while IBM bought PWC consulting in 2002. A year later, the CEO sold PC division, which takes around 30% of revenue. He said "It was no longer going to be a PC era. It was going to be sensors and smarphones." Of course, Ihpone came out about 4 years later. Dell was one of bidders for that deal as well. Looking backward, it might make sense but looking forward, it is a decision of century. It is amazing to see he predicted the major trend after 5 years and executed it with the agreement of the board, risking 30% of revenue of company. 그리곤 세일즈 맨 출신답게 자기는 비싸게 파는걸 좋아한다란 말을 남겼다...since then, IBM has revamped itself as a service provider, avoiding the nasty down spiral that Dell and HP are suffering now.
Posted on: Tue, 23 Jul 2013 05:06:31 +0000
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