You Don’t Mind Waiting, Do You?

CAT reported a big number this morning, and they’re buying back almost every single share possible–amounting to $10 billion. It’s an outrageous sum, a gross and negligent use of shareholder money. If I were a shareholder of CAT, I’d much rather see that money issued in the form of a special dividend. Nonetheless, I am not a financial engineer and do not even try to play one on the internets.

Markets will bounce on the open. Let’s hope (fingers crossed) it sticks. I must admit to being a bit glum this morning, after working myself up about a market calamity. I had visions (extra Nostradamus) that I’d skip the whole event, watching movies at the theatre, as the nation crumbled like a cupped cake in the hands of a glutton. I’d step in later on, when everyone was strewn out to waste, and buy it all up, profiting from the despair of others.

Oh well, all that is gonna have to be put on pause. My cash horde isn’t that big anyway and I stand to profit from any bounce in the general indices.

Good news out of AAPL, with regard to Sapphire on silicon, which should boost the shares of GTAT and RBCN. AAPL is moving towards Sapphire and others will follow. To hell with gorilla glass.

I’ve been thinking about my ANGI position and have decided to ride it out through earnings. As much as I would like to avoid it, there is no two ways around it. If ANGI is ever going to break higher on “normalization of its multiple”, they’re just gonna have to smash earnings, at some point or another. If they do, I suspect the shares will quickly move towards $25, encapsulating short sellers into a tomb, buried hundreds of feet below ground.