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To: Rascal who wrote (25695)	7/14/1999 12:45:00 PM
From: Ed Forrest	Respond to of 41369

Rascal Lucent and wireless. mercurycenter.com

To: Rascal who wrote (25695)	7/14/1999 12:59:00 PM
From: Ed Forrest	Respond to of 41369

Some reading material on a lazy,hazy summer day. An opinion, by Michael Makowsky Of The Bull Market Report What exactly are expected earnings and who is expecting them? Are they expecting to be stood up? Ha! What are they really expecting? Now, don't get me wrong, I know that ranting about illogical behavior on Wall Street is both amateurish and out of style, but this is ridiculous. A company reports significant growth, increased revenue and increased income. Do they go up. Nooooo. They drop like a rock because they don't meet the EXPECTATIONS of some doe-eyed analyst in Cubicle 6 just out of college. I am just waiting for Microsoft to report fantastic growth, a 50% increase in revenue, a 45% increase in income, and the purchase of a small Caribbean Island to store all their money, only to fall "just short" of expectations and then watch the stock plummet. Not that I'm bitter, I'm buying!! I understand that expectations are everything. And believe me, I know that traditional logic doesn't always apply anymore. I invest in companies with P/E's that would make more traditional investors car sick. All of that withstanding, it still hurts me to watch a company get punished for making MORE MONEY. And just when you thought the "expectations" are hard enough to swallow, you have to deal with the "whisper estimates." Who is whispering? And who is whispering to the whisperer's? Then again, if other people feel the same way I do, and are reaching for their favorite sedative right now because of this whole situation, maybe this is a great opportunity to load up on the pharmaceuticals!