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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: mt_mike who wrote (51579)5/16/2002 11:02:46 PM
From: Jim Willie CB  Read Replies (1) of 65232
 
IBM worth 20, wow... if MSFT bought its stock, could = 100

the stock mgmt is so dangerous
Gerstner seems to me an Enron-Anderson type of senior mentor
he will not be caught
but the market's revenge could be to trash IBM shares

an old Digital colleague still works for IBM as an outside consultant
he warned me 3 yrs ago that they engineer the books
but not cook the books
share buybacks were and are part of it
I think it is a betrayal of the corporate charter
how about retire some debt instead?
or fund their pension fund instead?

I believe in 5-10 years we will have new scandals about depleted pension funds across hundreds of companies
these funds are put at risk constantly
assumptions on their growth rates are exaggerated constantly
their returns are comingled constantly

honestly, I see a fresh scandal or two every year for as far the eye can see
I will put forth a list soon
and another of big potential surprises
got a bet with my legendary CEO about Xerox going belly up by Nov02
/ jim
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