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To: SunSunM who wrote (29993)	10/19/2000 10:20:59 PM
From: tigerman77	Respond to of 436258

very smart i believe it added a little over 500 mil to their statement.......this market makes no sense at all to me and until it does i will stay on the short side.....my take if the market can gap up and ramp this quick it can also do the reverse.....but not till after options expire....unbelievable msft went up so much today.....guess nobody picked apart the report like you did

To: SunSunM who wrote (29993)	10/19/2000 10:24:20 PM
From: pater tenebrarum	Respond to of 436258

KC, realized gains. if they were to begin to count paper gains we'd be arriving at the next stage of accounting chicanery. i found it a great improvement that derivatives had to be marked to market (note: $375 m. charge) instead of ending up as a footnote as usual. interestingly, the markdown is being backed out by 'analysts', but the investment gains are not. presumably they will continue to sell investments to prop up their earnings and with them their stock price. that will in turn enable them to continue to play around with derivatives and avoid taxes via their ESOP pyramid. however, all of this will turn into a pipe dream in a real bear market...

To: SunSunM who wrote (29993)	10/20/2000 12:25:38 AM
From: LLCF	Respond to of 436258

<If only realized gain is counted, msft can make up the income as they want, > I wondered this myself: "Nonetheless, about five cents of the company's impressive 46 cents in profit came from the $600 million in net gains Microsoft realized on its vast investment portfolio, Mr. Connors said. Three cents of that gain came from two major sales which closed in the just-ended quarter, ahead of schedule: the dispositions of Microsoft's stake in the TransPoint LLC online-payments venture and its position in Titus Communications Co." Looks like they are actually sales of assets that have closed... so there won't be anymore good news from those 2 assets. DAK