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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Roads End who wrote (66495)2/9/2001 9:29:40 PM
From: Earlie  Read Replies (2) of 436258
 
Riechers:

I'm not sure I can be of consequential assistance to you. Even though IBM was kind to me last year, it has become one of the few "untarnished" darlings this year. Louis the Fabricator doesn't believe in "warnings", so the many problems that exist within the company as well as the accumulation of accounting BS that Louis has heaped on the company won't become visible until the whole darned house of cards just disintegrates.

Personally, I will be there before the next earnings are announced, as I expect things to catch up with Gerstner this Q. But keep two things in mind: the market has closed its eyes to IBM's essentially flat revenues and slightly declining earnings for over three years now. It has also closed its eyes to an imploding balance sheet. As well, Louis is the master of deceit when it comes to accounting. He may well be able to keep the charade going a bit longer yet.

Best, Earlie
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