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Pastimes : CNBC -- critique.
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To: Yogizuna who wrote (7774)5/1/2001 5:50:24 PM
From: Les H  Read Replies (1) of 17683
 
The misuse or abuse of reporting the pro forma net income and comparing it to the First Call estimates for net income seems to have become especially prevalent this quarter by CNBC and Reuters. Clearly, they've figured out they couldn't cut estimates low enough to beat them and said, "What the hell? We'll just lie about it and people won't care.". It's less about reporting facts pertinent to serious investments than it is to perpetuating a financial pachinko machine, where you just bounce around the numbers till it drops in the right hole.
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