CSCO - where's the bottom?!?!? Bear Thread Message Board

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Technology Stocks : CSCO - where's the bottom?!?!? Bear Thread

CSCO 71.07

-1.4%

Nov 6 3:59 PM EST

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To: bambs who wrote (38)	11/19/2000 7:55:21 PM
From: Wyätt Gwyön	Read Replies (1) of 253

One thing of note is that companies there were allowed to count as earnings the market to market gains made in real estate they owned I believe they could declare the higher of book or mark to market. The Japanese bubble originated in real estate. Short term real estate gains were taxed at 150% to discourage sellers. Banks lent against inflated RE assets instead of earnings potential. Borrowers bought more land and stock, driving up values further, so that they could borrow more and repeat. One difference between their bubble and ours is that the individual shareholder typically got screwed there, while many individuals have done very well in the US.

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