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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (25744)	1/30/2002 9:49:58 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 99280

Mish, that author is not even addressing the major moral question that these companies take huge write off (like CSCO and JDSU) and then d not pay taxes for year (I don't know if JDSU will pay any taxes in the next 10 years), which then shelter their future earnings from taxes. The problem is that those write offs are the result of the same companies selling in essence to the public a story and inflated stock, which when the stock come back to earth, convert those poor investors losses to the companies carry forward losses. And these are the same companies that insisted on the AMT adjustment (Enron would have gotten $250 MM tax rebates, despite the fact that the have paid no taxes in the last five years). Zeev