Thoughts

Microsoft

If one normalizes earnings for the lower tax rate and "other income," the company would have missed the consensus by 2.5 cents.

By contrast, over the last year and a half, Microsoft has beaten consensus for six straight quarters by, on average, 15%.

Importantly, Windows revenue missed by about $200 million on the top line. On the other hand, deferred revenue was about $200 million above expectations.

Research In Motion Cuts


RIMM cut their forecast on shift in mix.


Soros Selling Commodities?


I have heard that Soros Management has been a large seller of commodities over the last few days.


Berkshire:


1. the restoration of Berkshire Hathaway's reputation has commenced; and
2. the discount of Berkshire's share price to intrinsic value has reached its widest level in six months owing to the Sokol event.

Recommended Reading


Rush off to read Knowledge@Wharton's 'Lowering the Deficit: The Choices Range From Drastic to Draconian.'