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I Went Looking for Two Misses at IBM and the Filing Only Had One.
One product cycle, two segments, one quarter that reads differently in the filing.
 • The Long View
IBM Fell 25 Percent in One Day. I Am Not Adding Until I Know Why.
Five days, three companies, and what I need to see before I add.
 • The Long View
Dillard's Meets All Five Criteria. Macy's Meets One. Berkshire Bought Macy's.
Five days, two department stores, and a result that points both ways.
 • The Long View
Dillard's Handed Back 83 Percent of the Cash It Generated Last Year. Macy's Handed Back 31.
Five special dividends, two buyback plans, and a merger that moved twenty shares.
 • The Long View
Both Stores Sell the Same Designer Labels at the Same Markup. Only One of Them Keeps the Money.
The gross margins are nearly identical. Everything else is not.
 • The Long View
One of These Companies Carries $2.66 Billion in Long-Term Lease Liabilities. The Other Carries Almost None.
The property tables cannot be compared. The balance sheets can.
 • The Long View
Berkshire Bought Macy’s. I Own Dillard’s. Neither Fact Means What You Think.
Same brands, same quarter, same customer, and five days of documents.
 • The Long View
Six Days, Nine Tests, and One Company
What nine tests found, and what to watch next.
 • The Long View
They Spent $4.6 Billion at an Average of $304
Eleven years, six filings, and the bar it leaves behind.
 • The Long View
The Forecast Went Up Before It Went to Zero
Four dated forecasts, and what the release said after.
 • The Long View
They Wrote Off $442.7 Million and Predicted It
Eight years of one person's decisions about money.
 • The Long View
Lululemon's Closest Rival Fell Exactly as Much
Both fell 12%. Neither decline is where it was said to be.
 • The Long View
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