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To: Sig who wrote (7176)	4/17/2002 9:02:09 AM
From: T L Comiskey	Read Replies (1) of 13815

Sig...here's a bears view about crummy stocks be careful out there T To:Dave Gore who started this subject From: Baldur Fjölnisson Wednesday, Apr 17, 2002 8:28 AM Respond to of 5675 It is possible that the companies underlying the U.S. stock market are collectively solvent. Just about. Here's why: <<<Fundamental Characteristics Month Ending 3/29/2002 Total Market Value ($) 13.0 trillion Mean Market Value ($) 2,180 million Median Market Value ($) 133.8 million Weighted Average Market Value ($) 81,327 million Largest Company's Market Value ($) 372.1 billion Smallest Company's Market Value ($) under 1 million Median Share Price $10.51 P/E Ratio 34.8 Price/Book 6.11 Current Yield 1.30%>>> The Wilshire 5000 Total Market Index wilshire.com. So; we have a book value of the entire market at $2.1 trillion or so. Deduct from assets a trillion of goodwill, intangibles and accounting fluff designed to deceive and defraud investors and other stuff that banks are unlikely to take as payment. Add to debt hundreds of billions hidden off balance sheets. Discount for a solid tradition of fraudulent and misleading accounting and reporting on all fronts; be it from corporations, government and Wall St. As you know; the SEC garbage just signed off on years of book goosing by their mob owners. The garbage took a four day look at IBM and pronounced all well and fine. Yeah, yeah. I'm sure nobody is dumb enough to take the SEC garbage seriously BY NOW. Hence the U.S. market may have a combined book value of 500 billion to a trillion dollars and is therefore currently trading at 10-20 times book. This is good news. The bad news is that scores of companies are totally bankrupt. So have fun accumulating upcoming bankruptcies.

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