Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Maurice Winn who wrote (11240)	11/23/2001 3:49:37 AM
From: Raymond Duray	of 74559

Hi maurice, You're right. There's a lot at stake in the central banks getting things right. As far as earnings are concerned, the whole concept has become so debased and corrupted by the "pro forma" games that they are almost completely suspect. I saw Michael Bloomberg, the new mayor of New York, in a TV interview a couple of months ago. The interviewer asked him about earnings, since it is a key statistic available on his proprietary "Bloomberg" information appliance. His response was telling. He said earnings were meaningless, because they were so easily manipulated. His advice on stock picking was to just find a company one likes that appears to have honest management. IMO, that cuts the field down considerably. <g> -R.

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