The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Giordano Bruno who wrote (114994)	4/5/2008 12:38:16 PM
From: Peter V	Read Replies (1) of 306849

"LEHMAN, FOR INSTANCE, REPORTED EARNINGS in its most recent quarter of 81 cents a share, above the consensus estimate of 70 cents. However, the $600 million gain from the reduced value of its liabilities essentially added about $400 million, or about 70 cents a share after taxes. Excluding that gain, Lehman's profits would have been below the consensus." So let's see, .81 minus .70 (bogus debt gain) = .11 I guess reporting .11 in the face of a .70 consensus doesn't sound nearly as good as .81. It's amazing that investors shrug this kind of crap off. Maybe its exposure in Barrons will help. Then again, maybe it's more proof of a bottom, and a buy signal. <NG>

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