This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
Pull up a bar stool. I can talk your ear off with stories like this.
Around this time last year over at
Seeking Alpha, I chronicled stories of analysts from major firms missing big on
Netflix(NFLX) only to fall off the face of the Earth thereafter:
... has anybody heard from Ingrid Chung at Goldman Sachs? ... After Netflix's disastrous Q2 and weak Q3 guidance in July, Chung waxed bullishly, not only reiterating a buy rating and her $330 price target, but raising EPS estimates from 2011 through 2013.
Before you read this next sentence, call some family, friends or co-workers over to your computer screen, because there's nothing like sharing a laugh with others around the holidays. For 2012, Chung predicted Netflix would post EPS of $7.69.
Why does this happen? Are these analysts
as incompetent as politicians? Maybe. Or do they have ulterior motives?
We don't know. That's the problem. Many sell-side analysts are not straightforward propositions. The clock ticks on their usefulness.
Somebody Do Something Other Than a Smartphone or Tablet
I would give up the iPad I bought myself for Christmas if this came true. We need innovation in tech. Not a bunch of Apple copycats and ankle biters.
Everybody just has to do a smartphone now. At
Hewlett-Packard(HPQ), Meg Whitman basically says
her company needs to do a phone because ... well ... everybody else is.
Best Buy(BBY) recently released it's own no-purpose-serving tablet. And, of course, there's underachieving
Google(GOOG) determined to start
a price war with Apple.
It's the stuff yawns and abject failure is made of. Somebody. Please. Do something different! Is the iPod -- and its evolution -- the last real true innovation we can touch that we'll ever see?
Somebody Execute a Gutsy Turnaround
Plenty of companies require wholesale transformations. Best Buy. HP.
Dell(DELL). All examples of companies in need of massive metamorphoses, yet they float a mix of
status quo maintenance and feigned attempts at feeble change.
The last real turnaround with guts that I recall took place at
Domino's Pizza(DPZ - Get Report). Several years ago, CEO Patrick Doyle took an enormous chance and trashed Domino's publicly. Then, in less than a year, Domino's not only improved the product drastically and rebuilt the brand, it turned itself into a tech company of sorts with an excellent online/mobile ordering system and a fantastic iPad app.
Tech companies, interestingly, can learn from a pizza company. If it's really that far gone, we might need more than help from Santa.
My Holiday gift to you: one of my favorite
YouTube videos, chronicling the Domino's Pizza turnaround.
Follow @rocco_thestreet-- Written by Rocco Pendola in Santa Monica, Calif.