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We’re Updating Our Fair Value Estimate for IBM

March 25, 2016

Last summer, we published a Tear Sheet suggesting a covered call “Bond Replacement” investment in IBM. The option we highlighted expired In-the-Money (ITM) and below our Effective Buy Price in October 2015. On October 18, we published a follow-up article discussing portfolio management of this investment. IBM issued its annual report late last month, and we …

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