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To: GVTucker who wrote (169682)5/20/2002 2:29:44 PM
From: D.J.Smyth  Respond to of 176387
 
GV re comment
Once again, I'll reiterate this: Wall Street wants the market to go up. Wall Street makes more money when the market goes up. If a firm on Wall Street was capable of manipulating the overall market (news alert: they can't) then they would manipulate the market upwards. It's much easier to entice a bunch of people to buy into overvalued markets than it is to entice people to buy into undervalued markets.

I don't fully agree. In the short term it doesn't matter which way the market goes. The financial performance of "WS movers" is judged relative from qtr to qtr, not over an ethereal five year period

If they are being fully honest, why then are they not considering overal Capex spending in Telecom?