Siebel Systems (SEBL) - strong buy? Message Board

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Technology Stocks : Siebel Systems (SEBL) - strong buy?

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To: hueyone who wrote (5936)	6/8/2002 5:36:19 PM
From: Stock Farmer	Read Replies (1) of 6974

ROFL: But in the previous post you subtracted:... No, when I explained that my silly error propagated through my post, I meant it. All of my figures for option expense were accidentally computed the same way. I used 10/(1-0.35) = 15.4, which is wrong, then (correctly) added 1.6 to get 17. This is not correct, because 10/0.65 is not correct in the first place. The correct formulation is (1-0.35)*10/0.35 = 18.6 for option cost. By amazing coincidence, incorrectly subtracting 1.6 does indeed give you the same incorrect figure of 17. A case of two different wrongs ending up at the same wrong answer. Yet another example of the proverb "Two wrongs don't make a right". The correct value of Option Compensation cost is 18.6 + 1.6 = 20.2 Mil. $10/35%)- $1.6-$10 = $17. By golly, I think I have caught you twice in rapid succession now.<ggg> If the Levin/McCain bill would pass, we wouldn't have to be spending all this time trying to figure out what the unreported employee stock option compensation cost is. I totally agree with you that the Levin/McCain bill would vastly simplify our lives. John

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