By Nicholas Vardy IBM Corp. (NYSE: IBM) is celebrating its 109th year.
That’s an astonishing achievement for any company, let alone one in the dynamic technology sector.
“Big Blue” is a remarkable exception in a world where yesterday’s heroes become today’s zeros.
But even IBM eventually lost its identity as a “one decision” stock.
Portfolio managers used to say that “no one ever got fired for buying IBM.”
Today, IBM has long ceded that role to today’s tech giants.
The Essence of “Creative Destruction”
Austrian economist Joseph Schumpeter popularized the phrase “creative destruction” in the 1950s.
According to Schumpeter, the “gale of creative destruction” describes the “process of industrial mutation… that …read more
