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To: Les H who wrote (37443)1/14/2000 10:04:00 AM
From: pater tenebrarum  Read Replies (2) | Respond to of 99985
 
that's exactly like what happened during the Japanese mania, companies also engaged in stock trading to enhance their profits back then.



To: Les H who wrote (37443)1/14/2000 10:26:00 AM
From: KyrosL  Respond to of 99985
 
Intel's numbers beat the street estimates only because they included the trading gains from their newly named Intel Capital fund as part of their regular earnings.

It's not just Intel that's doing it. Most of GE's 13% profit increase last quarter came from capital gains in its pension fund!

In more rational times, such financial gymnastics would have been punished severely by the market.