Zeev's Turnips - No Politics Message Board

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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: Night Trader who wrote (30635)	2/17/2002 6:07:07 PM
From: At_The_Ask	Read Replies (4) of 99280

The push for honest accounting is the silver bullet for the tech mania. The last glimmers of rainfall profits to be had by buying into these companies are beginning to fade. Bubble stocks are last weeks lotto tickets now. The balance sheet skeletons are just beginning to come out of the closet here, and there are still closets we don't know about. The only ones who have gotten rich on tech are the recipients of cheap options and those who have already sold. It is obvious that the management of tech firms as whole and even many non tech firms have little interest in producing a return on invested capital to the shareholders. Until tech can show some non proforma real earnings growth and increase real shareholder value the price of these shares will continue to decline. There will be more Enron's and Kmarts prompting more scrutiny, this process will feed on itself. There are plenty of CEO's out there praying they don't end up where Ken Lay is, they may not even have to go bankrupt. If they have been fudging the numbers, as most of them do, and getting fat options, as all of them do, they just might end up taking the fifth themselves one day. My bearish 2 cents all for what it's worth.

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