In Defense of IBM

There is nothing more persuasive in investing than looking at a company with a preconceived viewpoint, then have the facts change your thesis. In this case, amongst earnings reports from all the hot tech stocks of the day, I was working up a negative thesis on that old dinosaur IBM (IBM).

I have been highly suspicious of this company's results for some time due to the complete absence of revenue growth, combined with the firm's ever-increasing debt load. I was completely mystified why that old codger Warren Buffett would finally buy the stock, about 50 years after its heyday. I wanted to hate it -- really, I did -- but examining the numbers changed my mind....579 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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