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Strategies & Market Trends : Waiting for the big Kahuna

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To: William H Huebl who wrote (43435)	9/12/1999 8:43:00 AM
From: clochard	Read Replies (2) of 94695

Bill, here's an interesting article about Microsofts grand fraud: 8-September 1999: Greenspan and Pension Directors Updated on Microsoft Fraud Analysis Dear Mr. Greenspan, I appreciate your comments in Jackson Hole regarding taking a closer look at the integrity of corporate earnings, in particular the accounting for stock options. As the prestigious Economist magazine noted in an 8/7/99 cover story, a “proper accounting” at Microsoft would have resulted in a loss of $18 billion in 1998 even though the company reported earnings of $4.5 billion. This loss will probably exceed $25 billion for 1999. Although the overall effect on corporate earnings may be 1-2 percent, as you noted, this effect is dramatic at Microsoft and it is creating a serious artificial impediment to market efficiency not unlike the situation created by the Long Term Capital Hedge Fund. rest of article: billparish.com

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