Finance
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Or Maybe Your Model Leaves Something to be Desired…
From last week’s WSJ (requires a paid subscription for now, pending Rupert’s next move): “Wednesday is the type of day people will remember in quant-land for a very long time,” said Mr. Rothman, a University of Chicago Ph.D. who ran a quantitative fund before joining Lehman Brothers. “Events that models only predicted would happen once…
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The IBM LBO Continues…
[From last week’s IBM earnings announcement] Revenue up $1.8 billion for the quarter. Hard to tell what organic growth was but probably very low single digits. Repurchased $14.6 billion in stock and the number of outstanding shares down over 6% in the quarter. Debt to fund the buyback up $12 billion in the last six months (up…