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Technology Stocks : All About Sun Microsystems -- Ignore unavailable to you. Want to Upgrade?

To: QwikSand who wrote (35152)9/10/2000 11:04:05 AM
From: Bob Kim  Respond to of 64865
 
QS, Intuit analysts used pro forma numbers in 1993 when it merged with Chipsoft. Otherwise, its profits would have been masked by non-cash writeoffs of almost $10 a share. In 1994, a few buy-side guys and at least one short-oriented hedge fund questioned why Intuit should get special treatment by the analysts. Fidelity didn't seem to mind and bought in and really lucked out when Microsoft announced it was going to buy Intuit. The short didn't fare so well.



To: QwikSand who wrote (35152)9/11/2000 6:13:32 AM
From: JDN  Respond to of 64865
 
Dear QS: The "Pooling" vs "Purchase" accounting treatment is going on strong now. Personally, I have no problem with Pooling. I dont see why the mere joining together of two firms both of whose stock is probably bloated anyway, should result in a writeup of the assets. But, if you want to avoid being distracted by ANY method of recognized accounting then just look at cash flow. That is the TRUE indication of value in my mind. JDN


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