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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (27960)	5/5/1998 9:25:00 PM
From: Russ	Read Replies (1) of 132070

I just saw that Forbes article. I've been telling anyone who will listen that Microsoft's numbers were done with a lot of accounting tricks, and if they put option employee compensation in their P&L they'd show a loss, but nobody noticed or cared. Do you think now that Forbes has it on the cover there might be a drop in MSFT price? (Is it time to buy some puts?) One thing not mentioned in the Forbes article, but mentioned in MSFT 10-K, is that in order to cut the amount of funds spent repurchasing stock, they've been refinancing some of the stock repurchases by selling put warrants. MSFT has about 2 billion in exposure on them. So a bear market will not be good news for MSFT. But hey, they've been selling put warrants like that for years, and they've always expired worthless, and we all know that MSFT stock can only go up, never down, right? <G> -Russ

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