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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: hueyone who wrote (58508)	3/13/2002 11:21:45 PM
From: Ed Forrest	Respond to of 77400

Huey From the unbiased middle of the aisle I feel it only just and fair that you also toss MM a bouquet for his good grace upon reading this comment on the state of his mental health.:) If so, for the record, I think you are nuts. Message 17194593 My point is that these 2 guys go back and forth over financial statements and for that matter other issues, and continually trade barbs with no apparent lingering animus. Your comments, however innocent they may appear regarding said barbs by the one party probably should have been left unsaid. It could be construed as going to bias. Cheers

To: hueyone who wrote (58508)	3/14/2002 9:43:45 AM
From: RetiredNow	Respond to of 77400

OK, Hueyone, in the interest of figuring this stuff out, I think what would be useful is for either you or John to calculate FCF your way going back all the way to 1995, as I have with my adjusted cash flows figures. At the end of the day, what we're trying to get to is a FCF as a percentage of revenues rolling average, so that we can make some attempt at discovering what is sustainable over the long term. Then we want to forecast out revenues and do a discounted free cash flows to determine the stock price. So you both keep doing work on just two years and then claiming that your figures based on two years is enough data to understand what Cisco will do going forward. That, my friend, is hogwash. We need a better trendline, which means we need more years of data. I provided mine, will you provide yours? At the end of the day, the stock price will be determined by the following formula: PV of Discounted FCF + Current Market Value of Assets - Liabilities.