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Non-Tech : LIST OF COs. THAT MAY HAVE ABUSED ACQUIRED R&D WRITEOFFS
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To: Robert Douglas who wrote (1)4/8/1999 1:45:00 PM
From: Frodo Baxter   of 41
 
>Another important issue may be if the FASB changes how the accounting for pooling of interest is done it may limit future acquisitions because of the dilution to earnings.

To paraphrase Buffett, basing a purchase decision on its effects on accounting earnings rather than discounted cash flow is idiotic. But what does he know? His portfolio has moved sideways.

>What would this do to the growth rates of these companies that have lived off of acquisitions?

Roll-ups were in the shitter even since the blow-up at Cendant.

BTW, nice thread, Paul.
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