More to come.
4 replies (most recent on top)
Nah, Bill will just get tired of DST being a drag on profits. Just as soon as he gets tired of playing with his new toys he'll sell it to some greedy oligarch looking to make a quick buck.
Don't worry folks; come December, 'ol Bill Stone will send out the annual email from his yacht off the coast of France, while feasting on oysters and drinking a vintage bottle of Dom Perignon-declaring what a great year we've had and thanking all the little people for their dedicated, hard work! And all will be right with the world!! Of course, from his perspective, life couldn't get any better! And anyone complaining will just need to "pull themselves up by their bootstraps" a little more....LOL....
I won;t ever again buy into their BS. won't do it. Sure they may go up some again here and there but only slightly. Then next quarter comes again and will be the same scenario......headwinds blah blah blah excuses excuses.....just own up. you don't know what the f you are doing other than gobbling up companies. Glad I left! And on my own!
Holy sh-t, 25% in one week, that's really remarkable Stone-man! Senior management was telling a good story up to Tuesday, but reality didn't match. Customers not as "sticky" as advertised, boy they sure left in a hurry didn't they? New business not as easy to book, even with your new high powered (and highly compensated?) sales team on the DST side. I mean it boggles the mind, it's almost as if the new owners knew NOTHING about mut ual funds or claim systems!
The BS reporting around this is shockingly inaccurate. I found this on yahoo finance:
But during the subsequent earnings conference call, Stone added that industry headwinds – namely lower trading volumes and slowing M&A activity – are negatively impacting its acquired businesses and core financial services offerings.
I mean wtf? Trading volume doesn't effect mutual funds, fees are base on number of accounts, maybe it's referring to their other lines of business? M&A activity doesn't affect DST business either. And DST being a drag on profits is the problem.
So is the street really buying this BS "head wind" narrative? Looks like it.
Regardless, I'm pretty sure Stone will pull it out, just take a little longer, dude is ruthless. Probably a good buying oppurtunity here.