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Technology Stocks : WCOM
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To: BWAC who wrote (9019)2/4/2002 1:48:27 PM
From: Rob S.  Read Replies (1) of 11568
 
Who are the liars, crooks and thieves? Stocks are numbers in a computer ledger. You only own the full faith and credit of management and what they report. When that faith is shattered for real or imaginary reasons, you still own only those numbers. Ask me what the company is worth and I'll tell you exactly what it's worth: whatever someone is willing to pay you for it. That's all a stock is ever worth. And while the entire structure of this industry and the accounting methods used to gage it are brought into question for very real reasons, the house of cards is not worth nearly as much.
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