A year ago, we questioned Eastman Kodak’s solvency, and discovered a strange world of what Donald Rumsfeld might have called “dead-enders” who believed in a pot of gold at the end of the Kodachrome rainbow despite all evidence to the contrary.  One rallying cry amongst these folks was huge, multi-billion dollar patent sale that was imminent.  Well, apparently, imminent meant a year later, and billions meant 525 million.

A sobering reminder- don’t invest based on the rosiest projections you can find. Insist on a wide margin of safety.

Disclosure: The author owns no position in any stock mentioned.

• Apple and Google team up to buy Kodak’s patents (digitaltrends.com)
• Apple Joins Google in $500 Million-Plus Bid for Kodak Patents (bloomberg.com)
• Surprise Allies Apple, Google Team Up for Kodak Patent Bid (businessweek.com)
• Apple and Google reportedly join forces to buy Kodak patents (slashgear.com)

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