Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Misleading Earnings Reports -- Ignore unavailable to you. Want to Upgrade?

To: Fundamentls who wrote (2)	9/24/2000 4:02:39 PM
From: Cisco	Read Replies (1) \| Respond to of 53

"They (analysts) get spoon-fed the information by investor relations officers and they have a very strong tendency to put a positive swing or twist on everything," Hugh Johnson, chief investment officer at First Albany Corp., said. "They don't know because they're not told. And like sheep they follow." Less than one percent of all U.S. analysts' stock recommendations are "sell" ratings, according to First Call/Thomson Financial data. siliconinvestor.com

To: Fundamentls who wrote (2)	9/24/2000 6:50:55 PM
From: Shtirlitz	Read Replies (1) \| Respond to of 53

Read AMCC 's reports. All of it is pro-forma bullshit. I can't beleive that garbage got pumped up that high. They posted 21 cents "pro-forma". Expectations were for 17 cents, but if you read what is it exactly they have posted the real earnings were 3 cents. But analyst whores came out in droves to pump up this garbage, and the "new paradigm" nuts ran it up to the moon. When this thing will collapse (and it will, because they will choke on MMCN aquisition) it should be fun to watch.

To: Fundamentls who wrote (2)	9/24/2000 6:57:22 PM
From: Rande Is	Read Replies (1) \| Respond to of 53

Great idea for a thread, Fundamentls. I look forward to reading your discoveries. It reminds me of the old movie mogul joke about the 3 accountants looking to be hired by the Big Cheese himself. The first accountant nervously walks in and sits down. The producer asks him one simple question, "What is 4 plus 5?" The accountant nervously pauses a moment, then confidently answers "9". "NEXT!!, shouts the cigar smoking pin-stripe suited producer" The next accountant is asked the same question before he even sits down. Seeing how the first was so quickly dismissed, he figures he will inflate the answer some and in a shaky toned voice he squeaks out an answer, "ten?" . . . . . . "OUT! Get Out and send the last one in!!" . . . .The final accountant has read your thread and understands the game. He walks in with complete confidence and takes his seat. The fuming producer huffs out the question one final time, "How much is 4 plus 5?" The confident accountant leans over the producers desk and in a quiet calm voice asks "how much do you want it to be, boss?" He's retired now, but his 4 sons are all accountants. . . the eldest son works for a major brokerage house on Wall Street, the next one took over his dad's old job in Hollywood, the next son specializes in high-techs in Silicon Valley and the youngest son of all is a presidential cabinet member. Best wishes on your thread, Rande Is

To: Fundamentls who wrote (2)	9/24/2000 11:26:14 PM
From: peter michaelson	Respond to of 53

Great thread idea, Fund. Of course, there is no such thing as 'pro forma' accounting. There are no rules to it, except in pro forma schedules in IPO's merger documents and whatever, to make prior periods comparable to past periods. Today's pro forma accounting should be renamed 'press release' accounting, where the prior period is made comparable to a future period. In the end, the SEC will prohibit anything but GAAP figures being released, but that will take years. After all, there was a reason Generally Accepted Accounting Principles were developed and required in the first place. Should be an interesting thread. Peter

To: Fundamentls who wrote (2)	9/25/2000 10:42:10 AM
From: Tom Hua	Respond to of 53

Fund, great thread idea. I've it bookmarked immediately. Regards, Tom