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Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: dawgfan2000 who wrote (7119)	5/5/2001 1:06:28 PM
From: Berney	Read Replies (1) \| Respond to of 52237

Dawg, Thanks for the great article. As an accountant, it has been a complaint of mine for years. It really shows when you visit various sites and they report significantly different PE ratios. Seems that they cannot agree on earnings or shares outstanding. I thought the most important information came towards the end of the article: Under former Chairman Arthur Levitt, the SEC started a campaign against numbers games in September, 1998 (table). Among the results: a financial fraud task force, which SEC enforcement chief Richard Walker says has been "working on some very, very substantial matters, which the public will learn about shortly." They involve some of the largest companies in the country and the biggest accounting firms, he says. That sounds like the potential of a poison pill for the market, particularly coming at a time of slowing earnings. Berney

To: dawgfan2000 who wrote (7119)	5/5/2001 7:11:49 PM
From: Lee Lichterman III	Respond to of 52237

Great article. It is about time someone other than us noticed this stuff. Of course soon as the bull resumes, it will all be forgotten. -NG- I loved this line, "more than 260 companies have persuaded a majority of top financial analysts to abandon GAAP when making earnings estimates." In other words, you guys pick a number and we will cook the books to beat it by a penny. -gggg- The Fund Manager that admitted they didn't have time to scrub the balance sheets was also scary. Heck, Haim, Les and Heinz can find the bogus numbers within 5 minutes after a release and have them posted here on SI. The pros say they don't have time? Give me a break! Anyway, great article, I posted it on our site. Good Luck, Lee