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

To: Tatnic who wrote (243)	10/18/1999 1:11:00 AM
From: Richard James	Read Replies (1) \| Respond to of 3770

This from TheStreetCom <<TSC Weekender: Tattling on Tyco, Yearning for Earnings and Downing the Dow By Jennifer Howze and Jane Penner Staff Reporters 10/16/99 1:07 PM ET Tyco Takes a Fall Prudence has never looked so big, and well, bearish. Tyco (TYC:NYSE) -- a big conglomerate that makes everything from disposable medical products and fire extinguishers to valves and pipes -- watched its stock tumble nearly 16% over Wednesday and Thursday after a report appeared in Behind the Numbers, a newsletter run by Prudent Bear fund manager David Tice. It said Tyco was playing around with its accounting, a charge that has spooked investors since Cendant (CD:NYSE) last year disclosed big accounting problems which blitzed its stock. Granted, Tice's fund offers a perfect example of how not to invest in the midst of one of the biggest bull markets in history. But despite his fund's lousy returns, it seems folks like Tice's reports. Furthermore, the report was written by Albert Meyer, an accounting expert who, as The Wall Street Journal pointed out, uncovered the big New Era charity scandal a few years back. Tyco offered a shrill protest, insisting all the talk was "false and baseless." And sell-side analysts rushed to the company side --shocker! -- saying the company's books hadn't been anywhere near the kitchen. The ruckus does offer up one fine, ironic (prudent?) gem: Tice, who started all the trouble, didn't even short the stock.>> This tells me only a few things. That Meyer is an accounting expert who made a correct call on the Era scandal and that Tice hit a homer on Cendant. However, it does not comment on how often either or both have been totally off baase as to there calls. (As opposed to Tice's dismal efforts as a fund manger.) The tell is, as the article points out, that Tice didn't place his money on his mouth.