Cisco Systems, Inc. (CSCO) Message Board

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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 78.16

+0.2%

Dec 26 9:30 AM EST

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To: bofp who wrote (62785)	1/27/2003 11:32:23 PM
From: Stock Farmer	Read Replies (2) of 77400

bofp - not sure I understand your post. Forget details for the moment, they obscure the picture. Take a 60,000 foot view. Taking your figures for granted, the company has issued 2 billion shares. Which we are led to believe are worth $13.71 apiece (today). They also parted customers with $7.5 Billions more in revenue than the goods cost to provide in the first place. So just looking at the high level and forgetting about all the puts and takes in the middle, the company should show an increase in 34.9 Billion dollars in wealth: 27.4 Billion in return for what they gave out and 7.5 from running the business. Except it only shows 26 Billion dollars in wealth increase over that period, of which 4 Billion is of the specious goodwill variety. So if you want to cut out all the fancy accounting and mark everything to market, then about 13 Billions in wealth has gone walkies. Hard to spin that any way to get wealth creation. John

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