Over the last three years I could have repeatedly looked at EMC Corp.'s (NYSE:EMC) 78% stake in VMware (NYSE:VMW) and thought that isolating the value of EMC’s business by going long EMC and shorting VMW was a no-brainer.  After all how could I go wrong shorting a crazy expensive stock when I could turn around and buy back 78% of it on the “cheap”?  As Wall Street often has it let me count the ways and the times I would have been wrong.  Through 2010 as the poster child for “cloud infrastructure” spending VMW’s parabolic growth rate entitled it ...