Ted O’Neill at Wunderlich is such sad, sad little analyst. Bless his soul for working so hard, but at some point he’s gotta realize he has no idea what he is up to and say “Y’know, it’s time to move on.” I view the fact that he does still have a job – and theoretically a client list – as indicative of the persistence of at least some dumb, managed money.

The latest instance of entertainment from the man is an initiation on something called Tech Precision (TPCS).

Buy it! It’s grabbing share! Has a top notch customer list! Exposed to Solar, LED and Nuclear! You can’t lose!

I was intrigued. I live, eat and breathe this stuff and I had never heard of TPCS. What could it be?

It took me until Pg7 of his note before I said “Uncle!” I still don’t know what they make or do, but I presume it is related to capital equipment. Take a look at the following from his note and let me know if you see anything interesting. I see an equipment company with declining sales in the segment that is supposedly gaining share. And how does a company materially exposed to solar and LED post declining y/y sales in that segment in a year when every other solar/LED capital equipment maker posted blowout numbers?

Pass. Thanks for the idea, Ted, maybe I will short it on this week’s pop.

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