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Technology Stocks : Dell Technologies Inc.
DELL 138.80-2.7%3:59 PM EST
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To: stockman_scott who wrote (153059)2/5/2000 2:57:00 PM
From: Chuzzlewit  Read Replies (2) of 176387
 
Scott,

One additional point I failed to make: pooling also hides costs by restating previous years' results. If you look at SEC filings for companies that have used pooling you will find filings (10-K and 10-Qs) made before the pooling and see vastly different numbers for the same period after the pooling.

In effect, what the tech companies are complaining about is the fact that their results will appear to be much worse under purchase method accounting, and that the street's tendency to value a company based on earnings will cause the stock to stumble.

My major point is this: pooling creates a materially false picture of a company's financial position and may have caused at least part of the market bubble we see today.

TTFN,
CTC
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