Wednesday, 29 February 2012

Michael Pachter Rant

Ok, I thought I was done for the day, but I just couldn't help myself. Michael Pachter, analyst dumbfuck extraordinaire, recently stated that:

"I think the idea that we don't know the price point yet, but we do know what the console is, is just sad," he said. I think they've completely blown that. It's gonna launch at $249; because it has to. They're dead if they launch at $259, I think they're toast then. I think they're toast anyway."

" Nintendo is in disarray because they waited too long to launch the Wii U. I know that this sounds like (and is) sour grapes because they didn't launch the Wii HD in 2009 or 2010 as I "predicted". They should have, and because they didn't, the decline in Wii and DS hardware and software sales drove them into generating LOSSES. For those of you who aren't financial analysts, losses mean that the company is worth less than it was before. Nintendo stock has dropped by over 80% in the last few years, and the market has appreciated over the same period. I'm paid to advise investors, and none have made a profit owning Nintendo stock. I don't think that many will make a profit over the next few years, because I don't think Nintendo's strategy will return them to profitability."

"I believe (and please feel free to disagree) that a large portion of the Wii audience comprised casual gamers--those who bought one or two games a year the first two years, then put the Wii aside--and that those casual gamers moved on to another platform. The "other" platform may have been Facebook games, smart phone games, tablet games, or one of the other consoles, but once they moved on, they are not likely to come back."

I mean, does anyone even take this guy seriously anymore? Dude, your predicictions are WRONG 99% of the time, you contribute NOTHING to gaming other than wrongly predicting doom, mostly for Nintendo, and you still get paid for all of it. Does anybody see where this makes sense, 'cos I sure don't. He completely ignores the fact that the Wii is the market leader, and has the most sales, and has the audacity to say that Wii U will fail because it's pricing hasn't been announced yet, AND that Nintendo won't return to profitability? Honestly, I could see better predictions from some 12-year-old's blog. How that guy even thinks he's right is beyond me.

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