Wednesday, June 26, 2002

A quarter in the bag Spent some time going through Microsoft's recent 10-Q statement, and found that they've got nearly a quarter of revenue. Granted, they can't recognize all this revenue in one quarter but, in addition to the nearly 40B in cash and no debt, its a nice cushion. And, we hope, a wonderful oasis of security, safety and probity in an increasingly untrustable, insecure financial world. Now if the United States Government would stop trying to take it down..... Unearned revenue   Through 3/31/02     2001 2002 Y/Y Growth   total 5.31 6.91 30%   Apps 2.05 3.03 48%   Platform 2.55 3.1 22%   Enterprise 387 477 23%   Consumer 324 311 -4%   1:30:00 PM     Which one is our friend again? Wednesday. Friedman. Iran helps the U.S. organize the Northern Alliance, a longtime Iranian ally, to oust the Taliban in Afghanistan — a regime Iran staunchly opposed. ("We are civilized fundamentalists," unlike the Taliban, sniffed an Iranian official.) Once the Taliban were out, Iran quietly aided the U.S. in forming the interim government in Kabul. Not a single Iranian was involved in Sept. 11, not a single Iranian has been found in Al Qaeda, and Iran's nuclear reactor is under international inspection. Iran has the most democracy and freest press of any Muslim country in the Middle East. And as a thank you, President Bush labeled Iran part of the "axis of evil." Pakistan, meanwhile, created the Taliban, gave sanctuary to members of Al Qaeda, supported Islamist terrorists in Kashmir, built an Islamic nuclear bomb, and its leader, a military dictator, got $1 billion in aid from America. Saudi Arabia financed the Taliban, has hundreds of its citizens in Al Qaeda, has private charities that support Hamas and Islamic Jihad, funds Islamic fundamentalist schools all over the world, was home to 15 of the 19 hijackers of 9/11, has no democracy, and its leader, Crown Prince Abdullah, was invited to President Bush's ranch. What are the most threatening "Weapons of Mass Destruction"? People. People who blow up people. Are the most threatening people in the world. News (courtesy Debka.com) that the Saudi's continue to fund martyr training medressas all over the Muslin world. I would argue that its much easier to start closing those than it will be to handle Iraq. At least, we imagine, Hussein wants to survive -- no matter how many weapons he has, that must put some cap on how dangerous he could be. These folks who don't mind slipping the mortal coil are the ones to be really scared of. He's not stupid I've been listening to Nina Totenberg's great coverage of the 20th hijacker's trial. Moussaui isn't dumb. He's well-enough versed in the American legal system to be doing a credible job (certainly more credible than congressman Traficant) defending himself. Somehow, it's even more frightening to find that this potential suicide bomber is actually rationale, lucid and quick witted. You want to think these folks are anything but.   8:15:11 AM     Mom knows the bottom From today's column by the super-technical chart-reader Helene Meisler on Realmoney.com: But there is one final sentiment reading -- an anecdotal one -- that I'd like to see if we're to get to the ultimate extreme bearish reading: a phone call from my mother. She rarely picks up the phone to call me, as she is still living in the days when a long-distance call was a big deal. But at most major market climactic lows, my mother has picked up the phone to ask, "Should I sell?" 8:08:14 AM

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