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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: lawdog who wrote (34591)	5/4/2000 4:25:00 AM
From: Paul Reuben	Respond to of 77398

<<Clowns, man your positions.>> Hmmm, I liked "lemmings" better.

To: lawdog who wrote (34591)	5/4/2000 7:52:00 AM
From: GVTucker	Read Replies (2) \| Respond to of 77398

lawdog, RE: Is CSCO engaged in high risk lending ala S&L crisis? Is this company really managed as well as you think? This would indeed be a worry if it was true. In fact, one of the alarms that could have given notice that Lucent was going to warn was the extent of A/R and its vendor financing. All of that warning was contained in the balance sheet and cash flow statements. But take a look at Cisco's balance sheet before you make such an accusation. If Cisco was aggressively engaging in vendor financing to the extent that this was a driver of Cisco's growth, then there would either be a growth in a long term receivable asset or a growth in A/R days. There is no long term receivable, and A/R days have declined over the past year. In addition, if you take the time to call Cisco, the people there are about as honest and open as any company I have ever talked to in Silicon Valley or anywhere else, for that matter. Hey, I am about as bearish as they come on Cisco, and it is impossible for me to justify the current valuation. But if you're going to present a bearish argument, please do a little better homework. You're giving us bears a bad name.

To: lawdog who wrote (34591)	5/5/2000 11:15:00 AM
From: RetiredNow	Read Replies (1) \| Respond to of 77398

Lawdog, I agree with only one thing you said: that we should all use cash flow as our measuring stick. Cisco shows up extremely well by this measure. Look at Lucent and Nortel's cash flows for the last couple of years. Ugly isn't it?

To: lawdog who wrote (34591)	5/8/2000 7:59:00 AM
From: Zoltan!	Read Replies (1) \| Respond to of 77398

>>2. FASB will probably eliminate pooling of interest accounting for acquisitions thus eliminating one more earnings management tool. And yes, CSCO uses pooling frequently. aicpa.org; Forget about it. "Pooling" is arguably more accurate than the alternatives. You just don't understand it. Proving that mere accountants shouldn't be allowed to fool around with important matters. Let smart people prevail in those areas. Silicon Valley is important and what they say does matter. Many cite "pooling" as a key advantage over foreign competitors and a major contributor to the success of US tech firms over the laggards of most countries. Of course there have been abuses - no doubt perpetrated with an assist by your "green eyeshade types" - and the Feds should ferret them out - not punish high tech, the driving engine of US growth - by prohibition. Small, fast growing companies would be especially hurt by such a blunderbuss approach.