Salesforce.com (CRM) will be reporting today, and I want little to do with stocks trading at these sort of valuations going into an earnings report. While always cautious going into any earnings report, as the bipolar lemming action is nothing but annoying - when valuations are of this level [Jul 2, 2008: Does Valuation Matter?], the company has to be almost perfect in ticking every box to keep the momentum going. I expect a good report but the question will always be is it good enough versus market expectations.
I will be selling 2/3rds of the fund position first thing this morning, and take this down to a 0.65% exposure.
salesforce.com, inc. provides customer and collaboration relationship management (CRM) services to businesses and industries worldwide. The company also offers a technology platform for customers and developers to build and run business applications.
Long Salesforce.com in fund; no personal position