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To: y2kate who wrote (41638)	11/28/2000 9:36:58 PM
From: Perspective	Read Replies (2) \| Respond to of 436258

Kate - I'm not going to scold you as harshly as I did the last person who made this mistake, probably because I have fond memories of a certain Kate, but: Let's visit your assertion that TERN is trading at near book value. Are you familiar with the software acronym "RTFM"? (Read The F#&ing Manual) I think many people need to become acquainted with my new version: RTFBS. (Read The F&#ing Balance Sheet) :-) and <ggggggg> That so-called "book value" is in fact primarily intangibles. In case you're not familiar with them, they are basically accounting placeholders in the balance sheet with no real value. They are an expense that has been capitalized so the expense can be spread out over time. I'm chuckling that so many people are mistaking this for a realizable asset, since most of the accounting hard-nosed types are in favor of this treatment for acquisitions. I don't think any of us realized how many people would be tripped up by the fact that it skews book value. BC