Coming Financial Collapse Moderated Message Board

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Strategies & Market Trends : Coming Financial Collapse Moderated

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To: Plaything who wrote (867)	6/26/2002 10:55:04 PM
From: EL KABONG!!!	Read Replies (2) of 974

Plaything, No one even dreamt last year that within one year companies like Enron, Tyco, Imclone and Worldcom would be in the dumpster with FBI/SEC investigations. Not true... Just to name one poster (and there are way more), take a look at some of Jay Chen's posts from 1999 to 2001. Actually, many folks "predicted" problems for many of these companies. Although it may be true that no one knew the exact circumstances under which calamity would occur, the bloated stock prices were easy to find. Even CNBC has noted (in the past few days), that (in retrospect) any companies using EBITDA and pro forma numbers as the primary method of evaluating their net worth, seem to be the same companies that today find themselves embroiled in accounting scandals. So I am speculating (I am convinced actually!) that some of the bigname tech companies could also run afoul with similar scandals. As it is they are known for pro-forma accounting and with the incredible stock runups during the boom years, I would bet that a persevering journalist/investigator could easily dig up the hidden closet skeletons! Agreed! KJC

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