Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 174.01

-0.3%

Nov 14 9:30 AM EST

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To: Stock Farmer who wrote (114283)	2/25/2002 1:27:53 PM
From: Skeeter Bug	Read Replies (1) of 152472

john, you are spot on. it is a lot easier to "market" an eps number up than it is to actually "earn" more money. buffett is one of the few who take the more difficult, intellectually honest approach. pro forma = hypothetical. people should understand this. i have no problem with giving gaap and pro forma EQUAL billing as long as the differences are honestly explained. however, we all know that is rarely done. we also know why. however, such games used to "monetize investor ignorance" (warren buffett's phrase) only last for so long... that is why q decent company like qcom can be sitting nearly 85% off its high - and still be richly valued... john, ultimately, the sec and accounting standards boards are to blame. companies are following the law - and the law inflates stock prices - and tax revenues go up... remember, the productivity miracle was bogus statistical manipulation (chain weighted dollars instead of real dollars measuring computers). manipulation is the name of the game - at the highest levels of govt all the way down to your avg worker. only folks like buffett have the integrity to "do the right thing" - even when it isn't required by law.

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