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Strategies & Market Trends : John Pitera's Market Laboratory
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To: John Pitera who wrote (5565)2/11/2002 6:09:30 PM
From: MulhollandDrive  Read Replies (2) of 33421
 
>>History confirms what a lot of stock analysts and investors have been discovering to their chagrin lately -- that burst bubbles and accounting controversies tend to go hand in hand.

Accounting scandals and bankruptcies, in fact, are one important reason that it can take the stock market years to recover fully from a bubble.

"This is not an isolated event," says Ray Dalio, president of Bridgewater Associates, a money-management firm in Westport, Conn., that oversees $35 billion. "This is something that will spread" as many companies' accounting practices are examined. "Many more stories will come out. The examination will inevitably turn up more cases of aggressive accounting and there will be a penalty for that aggressive accounting."<<

John,

That make complete sense to me. As stock price multiples went into the stratosphere, it only seems logical that the pressure would be on to make the "e" fit the "p"....
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