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To: Trading Machine who wrote (10129)	8/5/2001 11:49:12 PM
From: Berney	Respond to of 11051

Well, the post was written for you, since you privately asked me the question. Let's just say that I was equally astounded by the reality. I'm not yet ready to swear off of the FA stuff, but I'm getting closer (just keep hammering on me). Nonetheless, can we really expect the train to leave the station with PE's at the upper extreme of historical norms with the these kind of games being played? As I noted to Bill, GAAP already provides the opportunity for lots of games. What we have here goes way beyond that! Just A View from the Swamp TB

To: Trading Machine who wrote (10129)	8/6/2001 11:51:33 PM
From: Berney	Read Replies (2) \| Respond to of 11051

Well, we're probably just romantics at heart. Bill is the one that got me to look at TA in the first place. I've just never been able to set aside the FA side of me, and this creates a bunch of work. It just seems that "we" have spent a lot of effort creating this concept of GAAP accounting with all the holes available in it. We require the companies to report to the SEC using this method. Then, we let them splash whatever numbers they want all over the TeeVee, and the ANAL-ysts just play along. I'm guilty of being a romantic. Boy, you can just feel the entire Market holding its breath for CSCO Tuesday evening. This is one of those moments where neither FA or TA helps you make a decision. The decision gets made Wednesday. Just a View from the Swamp TB