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To: Activatecard who wrote (21848)3/31/2000 2:38:00 PM
From: pater tenebrarum  Read Replies (1) | Respond to of 42523
 
corporate earnings are largely a Ponzi scam...if you back out the gains on sales of put options, tax credits for ESO's and pension fund transfers as well as pooled interest accounting and speculation gains, you are in most cases looking at losses, not profits. earnings have anyway nothing to do with how stocks behave in a mania...it's all about liquidity.