Rather, he dollar-cost averages into cheap funds and index funds and holds them forever in tax-advantaged accounts.Microsoft Corporation is an American multinational technology corporation headquartered in Redmond, Washington. ![]() ![]() In his current role at Kiplinger, Dan writes about equities, fixed income, currencies, commodities, funds, macroeconomics, demographics, real estate, cost of living indexes and more.ĭan holds a bachelor's degree from Oberlin College and a master's degree from Columbia University.ĭisclosure: Dan does not trade stocks or other securities. He's also written for Esquire magazine's Dubious Achievements Awards. and contributed to Maxim magazine back when lad mags were a thing. Once upon a time – before his days as a financial reporter and assistant financial editor at legendary fashion trade paper Women's Wear Daily – Dan worked for Spy magazine, scribbled away at Time Inc. As a senior writer at AOL's DailyFinance, Dan reported market news from the floor of the New York Stock Exchange and hosted a weekly video segment on equities. He has written for The Wall Street Journal, Bloomberg, Consumer Reports, Senior Executive and Boston magazine, and his stories have appeared in the New York Daily News, the San Jose Mercury News and Investor's Business Daily, among other publications. MSFT, meanwhile, looks to have made a bold strategic acquisition in a massive and fast-growing industry.Īnd as for investors in other video game studios? Does the MSFT-ATVI marriage make those assets more valuable?ĭan Burrows is Kiplinger's senior investing writer, having joined the august publication full time in 2016.Ī long-time financial journalist, Dan is a veteran of SmartMoney, MarketWatch, CBS MoneyWatch, InvestorPlace and DailyFinance. It appears investors in ATVI can put the drama surrounding the C-Suite and the stock behind them. "The migration will take a lot of time, however," he cautions. That's the strategic rationale behind Microsoft’s deal for Activision, Barish surmises. "Eventually we expect video games to become a cloud-based product (as compared to console based), and more content to throw at the customer should expedite this process," Barish adds. "The conclusion at the time of purchase was there was some component of 'inevitability' that the management suite drama would conclude in some constructive fashion, along with scarcity value for a major video game studio," Barish says.Īnd make no mistake: That scarcity value is key at a time when major cloud companies such as ( AMZN), Google parent Alphabet ( GOOGL) and Microsoft all have designs on the space. The video game publisher accounts for 2% to 2.5% of the funds that own it namely, Cambiar Opportunity Fund ( CAMOX) and Cambiar Aggressive Value Fund ( CAMAX).īarish saw value in a stock beaten down by scandal, negative press and difficult year-over-year comparisons - especially one that was trading at just around 13 times free cash flow. Indeed, gaming's future as a cloud-based product was one of the reasons behind Cambiar Investors' interest in Activision Blizzard, says Chief Investment Officer Brian Barish.Ĭambiar, a Denver-based active value manager with $8.1 billion in assets under management, initiated stakes in ATVI in the fourth quarter. Not only does the deal create the world's third-largest video game company, but - perhaps more importantly - it gives MSFT another way to leverage its behemoth of a cloud-based services business.
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