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Strategies & Market Trends : MDA - Market Direction Analysis

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To: Lee Lichterman III who wrote (35261)	12/16/1999 12:36:00 AM
From: Andy H	Read Replies (1) of 99985

The "restatement" risk factor is boilerplate and identical to that used in prior filings by CSCO. I used to write these things for a living and can tell you that in this case, the risk factor is not news. The way to bury a real risk factor that is actually present and not just hypothetical for legal protection is to put a more specific sentence in the middle of the boilerplate risk factor. For example, if CSCO had a real concern, it would mention the specific issue and what the possible adjustments could be somewhere in that risk factor discussion. This CSCO story this morning just showed how incompetent CNN-FN must be to hype PURE boilerplate risk factor language apparently without reviewing prior filings or consulting someone who is knowledgeable about SEC filings and risk factor disclosure. I wonder if CNN-FN is smart enough to realize what a foolish position they took on this matter this morning. Thank goodness Yahoo has the M,D and A discussions immediately accessible. I was able to compare the disclosures word for word, side by side, with two browsers open long before the open this morning. Impossible to do that pre-internet!

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