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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: John who wrote (152621)	2/21/2002 12:33:48 PM
From: KeepItSimple	Read Replies (1) \| Respond to of 436258

It wouldn't take much at all. You may have noticed that First Call now exclusively reports pro-forma estimates. It is their official policy to not accept estimates from analysts who use GAAP. The whole system is corrupt, just like all systems eventually become. The only way out is a complete destruction of the status quo, and TL&EV so great that the public will refuse to be scammed for a generation or two. -------------------------- I honestly don't think it would take very much bribe money or kickback money for First Call to report what they are directed to report, do you?

To: John who wrote (152621)	2/21/2002 1:26:42 PM
From: donk1948	Respond to of 436258

First Call collects analysts' estimates and calculates a consensus estimate which they sell to subscribers. The analysts get their numbers from the companies. The companies, the analysts, and First Call all benefit if earnings expectations are managed such that reported earnings are "better than expected." The financial media focuses the spotlight on this earnings sideshow while insiders rape the bagholders. Agilent reported a pro forma loss of 29 cents this week which was "much better" than the expected pro forma loss of 50 cents. (Never mind that the actual loss was 64 cents.) The "better than expected" earnings and a few optimistic words from management sent the stock skyward. Have any of the analysts been fired because of their miserable estimates? All IMHO. BWDIK?