Retirement from the sell-side

After more than 20 years following the enterprise software industry, first at Morgan Stanley, then at SoundView Technology Group, and most recently at Lazard Capital Markets, I have decided it is time to retire from the much maligned practice of "sell-side" investment research.

I have created this "blog" as a means to share my thoughts regarding the software industry which has undergone dramatic changes in the wake of the internet/Y2K induced boom of the late '90s, from a veritable feast in terms of growth and numbers of companies, to famine, with negative growth and consolidation.

Unlike my prior life where we issued earnings models, ratings and price targets on software stocks we covered, with the focus inevitably being short term oriented, in this blog we aspire to discussing companies and the industry from a more strategic perspective.

Stay tuned.