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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Maurice Winn who wrote (5084)	6/18/2001 6:37:17 AM
From: smolejv@gmx.net	Read Replies (2) \| Respond to of 74559

>>...Microsoft, ...it's far more than a store of value.<< Yes, it's far more, it's a Ponzi scheme at its best. dj

To: Maurice Winn who wrote (5084)	6/18/2001 8:18:48 AM
From: Stock Farmer	Read Replies (2) \| Respond to of 74559

Maurice, I think we must agree on our definition of a word before we can agree. Until then, we disagree by definition <tongue firmly in cheek!> We really weren't that far apart, but I couldn't resist yanking a nice looking chain. >>Companies are much more than a a [sic] store of value. They are a productive asset...<< Yes, indeed they are. But then you list MSFT. Hmmm.. Let's look at this productive "asset". A peek under the hood. In the latest 10Q. In the table labelled "Stockholders' Equity Statements". I draw your attention to the relative size of two line items. The first is "Common Stock and Paid In Capital" which increased in the latest quarter from 21 B$ to 28 B$ in round numbers. The next is "Retained Earnings". Which increased from 16 B$ to 19 B$. Maurice... this should tell you something about this "productive" cash generating machine. The "asset value" you are buying is coming from shareholders [versus internal production] in the ratio of 7:3. MSFT is very productive at taking money out of your pockets to put money back in your pockets later, nicely folded and pressed. Lightly starched. Oh, and you might note that they happen to store their value in something denominated by this "money" you disdain. So it seems like you want money (both senses of the word), you just prefer that someone else holds it for you. No problem. They charge for that though. John.