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Strategies & Market Trends : Gorilla and King Portfolio Candidates -- Ignore unavailable to you. Want to Upgrade?

To: Uncle Frank who wrote (44613)	7/17/2001 10:18:09 PM
From: BDR	Read Replies (1) \| Respond to of 54805

OT- Poots? Could I interest you in a donut? PE = 119, just like in the good old days. washingtonpost.com

To: Uncle Frank who wrote (44613)	7/17/2001 10:29:09 PM
From: Wyätt Gwyön	Respond to of 54805

concerns have been raised over IBM accounting (e.g., debt issuance/share buybacks at increasingly high prices to prop up EPS), and if you look at their various businesses, other cos. in those sectors have been hit hard. there was an article detailing many of these points in the latest grant's interest rate observer. my personal guess is Sir Louis will not let things outwardly spoil while he's still at the helm these next few months.

To: Uncle Frank who wrote (44613)	7/18/2001 10:10:47 PM
From: Earlie	Read Replies (1) \| Respond to of 54805

UF: I posted my reasons over on the CFZ thread (around 4:00 today). More or less a copy of what I had posted earlier in any event. Basically, the company's accounting ledgerdemain appears to me to be (finally ) coming home to roost. Our research indicated that IBM would miss the rev estimate and probably make the earnings estimate. We figured that with analysts increasingly antsy about this kind of baloney, that the PE would take a beating. Looks like we were more or less on the money. Best, Earlie