After reading so much fear, uncertainty, and doubt (FUD) spewed by alleged financial writers, tech writers, and other self-proclaimed ‘experts’ I thought I’d devote this posting to the most misinformed article of the week.
While there were many candidates for this honorable title, a few went above and beyond the rest. These elite few went out of their way to perform literally no research what-so-ever, before painstakingly putting their opinions on virtual paper. Opinions that will be picked up by other news wires and cited again and again over the following days, weeks, and months. The difficulty is teasing out those who have a hidden agenda (i.e. financial interest) from those who are Truly Clueless.
In my assessment, the Truly Clueless get a slight pass as they wouldn’t know a fact if it hit them in the face. In addition, unless they are writing for a really big publication their click-bait titles provide them with minuscule financial gain. Those with a hidden agenda are harder to identify as it typically takes some digging to spot them, such as Brokerage Firms who purposely understate the number of BlackBerry handsets sold while preparing to underwrite a round of financing for one of BlackBerry’s MDM competitors. Or Brokerage Firms who spin Earnings Reports (ER) in a negative manner so their clientele who have a short position on BlackBerry may take a profit. These are just #2 hypothetical scenarios, but I’m sure you could envision many others.
So without further ado here is my candidate for misinformed writer of the week-
Drum roll please!
Who else but The Don of the Delusional, Monarch of the Misguided, Duke of the Daft, let’s hear it for James Faucette for predicting that BlackBerry only sold a combined 8,000 Classics and Passports units just prior to the ER. A statement John Chen obliterated when he said that 90% of the 1.6M handsets sold were newer models. End of story, right? Guess again! Yet in spite of this galactic blunder Mr Faucette refused to let the facts get in his way – he went on to spin the profitability as a negative!
I would go on but I need to take my blood pressure medicine before I have a stroke….