Applied Materials No-Politics Thread (AMAT) Message Board

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Technology Stocks : Applied Materials No-Politics Thread (AMAT)

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To: Steve Lee who wrote (3774)	10/27/2002 3:06:23 PM
From: Kirk ©	Read Replies (1) of 25522

KL: "how many times do you think JDSU or Lucent can write off $40B? They don't have that sort of market cap to write off so the losses have to get smaller by default." SL: The losses don't come from market cap, they come from fantasy book value. So it depends how much fantasy remains on their books. You might want to go answer my question before you get too excited being a bear... you might want to go look at the book value of what remains. Between Lucent, CMGI, JDSU and ARIBA, there isn't $8B in market cap left... quicken.com This is a perfect example why you don't use GAAP earnings to assign value.. It gets too many people confused after CFO's throw out everything including their kitchen sink to start fresh near a botttom... if they can stay in business.

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