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

To: Crystal ball who wrote (544)	11/3/1999 12:26:00 AM
From: Dale Stempson	Read Replies (2) \| Respond to of 3770

FWIW, I initiated a significant position in TYC. I first became aware of Tyco when they announced the acquisition of a company I had been following, Praegitzer Industries (PGTZ). While doing my DD, I ran across a recent research report from Credit Suisse First Boston Corporation: Accounting "Issues" Are Baseless In Our View (10/14/99) In the lengthy report, CSFB provides detailed responses to each of the assertions that were presented in the short-selling newsletter. Here are a few out-of-context snips that should give you an idea of just how strong an opinion CSFB has regarding Tyco and the accounting issues: "Reiterating Strong Buy." "We recommend immediate and aggressive purchase of Tyco International." "We have stated for some time that the world has two kinds of people-those who own Tyco and those who should-so you can say we have been bullish. We remain so, and unequivocally." "We have read the document in question, which makes no claim of irregularities, and consider the primary arguments about earnings quality poorly thought out if not misleading." "Accounting is by definition a matter of judgement-and we refute each of the nine main points on the following pages." "We feel that raising "concerns" in the absence of specifics is pretty weak, and in a way are glad that somebody has finally given us something to swing at." "We think the author's thought process is flawed." "...we cannot even figure out the rationale..." "Of course, the author offers no proof." "This assertion is completely misleading, in our view." "Again, we believe the author has blinders on..." "We can not even fathom why the author believes..." Well anyway, you get the idea. Regards - Dale