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Non-Tech : Tyco International Limited (TYC) -- Ignore unavailable to you. Want to Upgrade?

To: Albert Martin who wrote (239)	10/17/1999 12:11:00 AM
From: Don Edgerton	Respond to of 3770

The idoicy of it all was how many bailed on the news before knowing the facts. It was likely money managers. Guess a lot might have had tight stops which got hit and then it cascaded. End of mutual fund FY coming. Got to lock in those gains, get the performance bonus. Buy back in November. Screw the small investor. Guess Lucent got tainted buy the same worries. Academics can have an honest disagreement on accounting practices. But if done in accordance with GAAP, who is to say it is wrong unless they change GAAP. Most every tech stock out there has been using pooling and large current write offs. Just think of CPQ. If it capitalized all the goodwill form Digital Equipment and Tandem, then it probably would never show any earnings. Guess Dell is the only virgin left since they've made no acquisitions (until Convergent closes), thus they haven't had any questionable write offs.) I put my money on the company after seeing the CEO. I could feel his pain at his company being blind sided. I suspect that there were a lot of back room calls amongst the "shorters" as well as managers before deciding to bail. If there are factual errors in the Tice report and it can be proved that Tice had any direct or indirect interest in accounts which profited, he is toast. He was probably not so stupid as to have it in his fund where it is obvious. You note that he said Prudent Bear fund didn't own it. He said nothing of any other money he manages or advises.