I bought Emulex Corporation (ELX) today after taking some pretty wicked losses at market open today.
ELX has $211 million in cash and $0 debt. They just acquired Endace, a New Zealand company that was traded on the London stock exchange. Endace does business with: 3 of the top 5 telcos in the US, 5 of the top 10 global telcos, top US and European intelligence agencies, and more.
In this episode, I talk more about why I bought ELX today. I also talk about the brutal market this morning and then I give a shout out to a viewer’s stock.