In a recent article in 24/7 WallST the writer Douglas A. McIntyre is making the connection of IMB’s progress with Watson and Blockchain and its lead investor Warren Buffet.  His observations can be summarized as follows:  In spite of all the hype about Watson and Blockchain, the IBM turnaround had not stalled. It never existed.  Buffett cut his investment in IBM to about 2 million shares in the final quarter of 2017.

Warren Buffett’s bet on International Business Machines Corp. (NYSE: IBM), which he has almost completely abandoned, was based on his belief that its chief executive officer, Ginni Rometty, could turn around the floundering tech company. When it was clear she could not, Buffett sold virtually his entire holding in the stock.

IBM collected some of its cloud and artificial intelligence businesses under an odd umbrella called Watson, named after Thomas Watson who ran IBM from 1914 to 1956.  IBM never fully described what the Watson operations were. However, the company issued press release after press release about the partnerships IBM made based on alliances formed, mostly without dollar figures attached to them. Among the most recent:

Maersk and IBM announced in January 16  their intent to establish a joint venture to provide more efficient and secure methods for conducting global trade using blockchain technology. The aim of the new company will be to offer a jointly developed global trade digitization platform built on open standards and designed for use by the entire global shipping ecosystem. It will address the need to provide more transparency and simplicity in the movement of goods across borders and trading zones.

In the fourth quarter, for the unit of IBM that includes its “strategic initiatives,” the future of the company, the results were not impressive: