The DELLvil in Mr. Altucher

Writing about a "contrary take on contrarians" in his latest Financial Times column, James Altucher gives this stock tip:

How about Dell? I thought the world's second-biggest PC maker was going to disappear because everyone is now buying laptops and all the banks have stopped buying computers because they are all bankrupt? Well how about their 27 per cent increase in earnings plus their new $10bn buyback programme? The stock is 20 per cent off recent highs, so let's get in at a discount to all the people who bought recently, including superstars such as Moore Capital and value guru (the "other oracle of Omaha") Wally Weitz.

I'll add that Dell remains the single-biggest holding of both the Longleaf Partners Fund and the Longleaf International Fund (as of 9/30/07). In fact, it's a "double position" in the funds -- accounting for nearly 10% of the Partners Fund assets and more than 8% of the International Fund.