Stock Attack II - A Complete Analysis Message Board

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Strategies & Market Trends : Stock Attack II - A Complete Analysis

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To: Trading Machine who wrote (14680)	8/12/2001 2:43:43 AM
From: Berney	Read Replies (2) of 52237

TM, As you invoked my name, I'll respond. I have spent more time and paid more tuition to the Investment Institute of Higher Learning than most. I regret it not. However, it was the father of TA, Benjamin, who stated: "In the short term the Market is a voting machine, but in the long term it is a weighing machine." The problem with FA is that it is based upon BS. Few can agree on even the rudimentary understanding of the current PE. That formula is very simple and only requires two variables: earnings and shares outstanding. Sadly, about 25% of the Big Boyz report earnings that take an extreme effort to determine the earnings that would/will be reported to the SEC. In other words, earnings in accordance with GAAP. As an accountant type, I readily understand that GAAP allows games that a truck can roll through. The problem comes with all these other garbage types of accounting that are being bought hook, line and sinker. All they need is a fish. So, I'll continue to watch the FA, but it should have no effect on my current investment decisions. Just a View from the Swamp Berney

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