Zeev's Turnips - No Politics Message Board

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

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To: DlphcOracl who wrote (32278)	2/22/2002 1:29:53 PM
From: reaper	Read Replies (1) of 99280

<<Can you say: Enron?Qwest? >> Dood, do you actually do any work on stocks / financial statements or do you just make meaningless inflamatory generalizations. Look, I don't trust Wang/Kumar/Zar as far as I can throw them. And their accounting has been rotten for years. but... CA is a real business. It generates real cash. Look at the cash flow statement (which is not subject to the ridiculous accrual adjustments that CA management has been torturing their P&L with forever). They generate at least $1 billion in free cash a year, every year. The equity market cap at $15 is +/- $9 billion. I'll gladly pay 9x real cash flow for this business. To compare CA to Enron and Qwest (which have had huge cash deficits and growing debt loads forever) is simply ludicrous. Plus, since I (and most CFZ regulars) am heavily net short, I'm usually on the lookout for reasonably-valued longs (they're few and far between) as a hedge. Cheers

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