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Tag Archives: IBM

Beware Of Those Selling “Technology”

“3. And they said to one another, ‘Come, let us make bricks, and burn them thoroughly.’ And they had brick for stone, and bitumen for mortar. 4. Then they said, ‘Come, let us build ourselves a city, and a tower with its top in the heavens, and let us make a name for ourselves; otherwise we shall be scattered abroad upon the face of the whole earth.’” Genesis 11:3-4 (NRSV) Technology Technology can be thought of as the development of new tools. New tools enhance productivity and...

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Buffett Adds Another 3.9 Million Apple Shares, Cuts IBM, Wells Fargo Holdings: Full Q3 Holdings

Traditionally one of the most boring, and telegraphed 13-Fs, today's update of Berkshire holdings did not contain any major surprises, well maybe with one exception: while it was already well-known that at the end of June Buffett converted roughly 700 million Bank of America preferred shares into common, which now appear on Berkshire's 13F, there were two notable changes. First, Buffett continued to dump his IBM holdings, and as of the end of Q3, he held only 37 million IBM shares, down 31.5%...

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First A.I. ETF Claims It Can Replace An Army Of Research Analysts

“Look Dave, I can see you’re really upset about this. I honestly think you ought to sit down calmly, take a stress pill and think things over.”   From Stanley Kubrick’s 2001: A Space Odyssey. As if MiFID II wasn’t bad enough, now this “EquBot AI Technology with Watson has the ability to mimic an army of equity research analysts working around the clock, 365 days a year, while removing human error and bias from the process.” That is the claim of...

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Hyping Lean

Activist hedge fund manager Bill Ackman succeeded in 2013 in ousting Procter & Gamble’s CEO Bob McDonald. It was noteworthy at the time because the company issued a strange memo repeating often verbatim answers to questions it posed to itself. Among them was if Mr. McDonald was fired or, as had been relayed publicly, he voluntarily retired. The memo merely thanked him for his 33 years of service and “notes the Company’s improving business performance.” He was replaced by the man who...

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IBM Reports 21st Consecutive Quarter Of Declining Sales, Record Low Effective Tax Rate

Last quarter, IBM almost fooled the market when it "beat" but only thanks to using the lowest (until then) effective non-GAAP tax rate in recent history (excluding one charge-filled quarter when the rate was negative and thus N/M). Fast forward one quarter when IBM has done it again: in the three months ended June 30, IBM reported GAAP EPS of $2.48, below the expected $2.75. Of course, when it comes to IBM it is all about non-GAAP results, which in Q1 were $2.97, "beating" estimates by 22c....

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It Will Restart All Over Again In the Small Things

Six months ago back in October, IBM reported what seemed to be encouraging results. Though revenues at the company were down for the eighteenth consecutive quarter, they were so by the slimmest of margins, just -0.3%. For Big Blue, that had been the best revenue comparison since the first quarter of 2012 back when global recovery was the most plausible. The positive momentum was attributed to the company’s shift toward the new growth model, cloud, SAAS, and other next step technologies in...

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It’s Not Just Blue-Collar Jobs – Insurance Claim Adjusters Replaced By “IBM Watson Explorer”

Submitted by Mike Shedlock via MishTalk.com, Manufacturing jobs have already been decimated by robots. White collar workers are next in line. Fukoku Mutual Life Insurance in Japan is about to replace claim adjusters with a software robot from IBM.  Most of the attention around automation focuses on how factory robots and self-driving cars may fundamentally change our workforce, potentially eliminating millions of jobs. But AI that can handle knowledge-based, white-collar work are also...

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