Microsoft

November Option Expiration and our Dividend Income Portfolio

by Glenn Busch November 28, 2011
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Option expiration for November 2011 was just over a week ago. We had four outstanding covered calls in our Enhanced Dividend Income portfolio, all expired worthless. I’ll run through each trade below.

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Writing Covered Calls on Microsoft

by Glenn Busch September 29, 2011
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Writing covered calls, if done correctly, can add extra income to an equity portfolio. It is a strategy we pursue in accounts with our enhanced dividend income portfolio. We buy high-quality stocks that we deem to be undervalued that pay a consistent dividend and show a propensity to grow this dividend too. One of the portfolio holdings is Microsoft (MSFT) and we recently sold some calls against this position.

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Baupost Group Reports New Positions in Microsoft and BP Plc.

by Glenn Busch August 15, 2011
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Seth Klarman and Baupost have joined many other value investors and started a brand new and large position in Microsoft (MSFT). Baupost’s stock holdings are much smaller in regards to its credit holdings so it is significant that Microsoft accounts for over 13% of their equity holdings.

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Recapitalization for Microsoft?

by Glenn Busch July 13, 2011
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We believe a well-designed capitalization strategy would generate immediate and ongoing attractive returns for shareholders, and quickly drive the share price into the high-$30′s (over 50% upside from today’s price). As long-term shareholders, we strongly believe that only through an optimized capital structure can Microsoft best deliver attractive returns to shareholders and continue to execute on its long-term operating and strategic goals.

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Why Own Microsoft?

by Glenn Busch June 29, 2011
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Why would anyone want to own Microsoft (MSFT)? They’re lagging behind Google and Apple in the smartphone category. They’ve made poor capital allocation decisions like paying $8.5 billion for Skypeand Microsoft’s stock has gone nowhere for the last couple of years.Yet, big name value investors like David Einhorn of Greenlight Capital, are making Microsoft a big position in their portfolios.

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