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Pastimes : MANIPULATION IS RAMPANT --- Can We Stop It? -- Ignore unavailable to you. Want to Upgrade?

To: Dave Gore who wrote (69)	5/11/2002 11:49:41 AM
From: Dave Gore	Read Replies (1) \| Respond to of 589

On Analysts: "It's complete B.S. It's gotten to the point where you don't know who you can rely on." Feb. 25, 2002 , "Business Week" COVER STORY The Accountant Who Lost Faith--and Money Others: businessweek.com Cover Image: The Betrayed Investor Chart: The Road to Disillusionment Table: The New Investor Class Table: Poll: They're Fed Up (extended) Table: The Fallout Table: Post-Enron Reforms: What's Real and What's Not The Attorney Who Stopped Opening Her Statements The Couple That Switched to a Savings Account The Retiree Who Washed His Hands of Wall Street Commentary: A New Economy Needs a New Morality Commentary: Congress Will Huff and Puff and...Do Little Online Extra: Q&A: Paul O'Neill on the Enron Cleanup Online Extra: Q&A: Harvey Pitt Details the SEC's Progress Online Extra: Q&A: Morgan Stanley's Byron Wien on Valuations "James J. Houlihan Jr.'s plan to retire at 50 is gone. In the last two years, he lost about 30% of a portfolio invested in such stocks as EMC (EMC ), Lucent Technologies (LU ), and WorldCom (WCOM ). Now, the 41-year-old must also work harder to rebuild his four children's college funds. "I just don't understand how a business can appear to be so strong and in six months become a fraction of its value," laments Houlihan. "There are people who know what's going on, and then there's the rest of us." He'll save more and spend less--but he's not counting on stocks to make up for what's lost. He and his brother run an accounting firm in Fort Wayne, Ind., so it's not as if he doesn't understand analyst reports. But now, he says, "I don't pay them any credence. It's complete B.S. It's gotten to the point where you don't know who you can rely on." Link to this story and others: businessweek.com