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

To: hueyone who wrote (48537)	11/3/2001 6:26:21 PM
From: Wyätt Gwyön	Respond to of 54805

hi Huey, In the 90s we didn't have insider trading scandals; instead insider thievery was institutionalized and canonized with massive stock options. that is a very good way of putting it--"institutionalized and canonized". i would only add that, in addition to stock options, there was also the institutionalization of pro forma fantasy numbers and a move away from GAAP. this makes the market look cheaper than it really is, and distorts historical comparisons. the central driving force seems to be to make stock prices go up, no matter what the cost in terms of intellectual and accounting honesty. now we get to live with the aftermath of the horrendous perversion "shareholder value" became in the 90s.