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Strategies & Market Trends : Value Investing
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To: blankmind who wrote (13951)2/18/2002 11:23:17 PM
From: Madharry  Read Replies (2) of 78567
 
You are a cpa and admit you have difficulty understanding the financials. I am an ex-banker who years ago audited several units of CIT. My opinion at that time was that inexperienced credit managers were approving risky transactions that I would not have. A leasing company is very difficult to analyze without having a heck of a lot of information- there are all types of leases and all types of assumptions made regarding residual values. Therefore the cash flow may or may not be real and accurate. It is impossible to tell. Of course that is just one piece of the puzzle. There are certainly accounting issues with respect to GX accounting and there is probably some spillover to TYCO. I also question why after being a successful conglomerate for many years management decided to split into separate companies. Do you understand why?
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