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Technology Stocks : Silicon Graphics, Inc. (SGI)
SGI 90.81-2.0%Dec 3 3:59 PM EST
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To: Alexis Cousein who wrote (3680)12/3/1997 1:57:00 PM
From: Mathon Dabasir  Read Replies (2) of 14451
 
Alexis: Sorry to hear you lost on SGI's recent stock decline :(
Many investors did, which, as I derived from your last post, is a tragic pitfall that goes with making any speculative investment.

I agree with your view of the blood sucking creatures out there. On that note, please understand, I do not support these vermin. But the reality is they are out there, in force, wreaking havoc on any publicly traded company that makes a mis-statement about their future earnings. That's why many companies these days A) won't say anything about their future earnings -or- B) will downplay them even if they look good.

Is all this necessary? I think so because it keeps everybody honest.

In your last post you also stated being wrong about future sales and/or earnings predictions is not an offense. I disagree, being wrong is offensive when costs shareholders money. There are strict laws on the books that govern this sort of activity which publicly traded companies must abide by per the SEC.

<IMHO> I believe SGI knows these laws all too well and would not make any false or misleading statements to inflate their stock price. No way. I also believe, as do you, they were just off on their forecasted numbers that's all. 180 degrees off. But -off- nonetheless.

Bottom-line: If you're a publicly traded company and inflect positive earnings that don't happen. You pay a heavy price.

All in my (humble) opinion of course.

Mathon
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