IBM Message Board - Msg: 6150137

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Technology Stocks : IBM

IBM 304.42

+0.1%

Nov 25 3:59 PM EST

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To: Bill Martin who wrote (4105)	10/24/1998 7:54:00 PM
From: yard_man	Read Replies (1) of 8218

Things like using debt to finance stock buybacks -- (I know, I know, supposedly you can't trace the debt to this purpose, but the debt would be less if the repurchase hadn't taken place) to boost eps -- looks like a great thing to do when revenues and earnings appear to be gorwing, but when a slowdown in investment occurs -- it becomes apparent how silly such a program to boost eps is. I think IBM and other companies that engage in this and other kinds of 'tricks' will tend to overshoot to the downside in this bear market. You see, the market as a whole, often does ignore or fail to incorporate known information in the prices of stocks until some kind of threshold is reached. Enjoy the coming bear market. You've earned it! <g>

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