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

To: shoreco who wrote (80327)	6/18/2002 8:17:31 AM
From: DebtBomb	Respond to of 99280

ggggggg.

To: shoreco who wrote (80327)	6/18/2002 9:45:17 AM
From: Earlie	Read Replies (2) \| Respond to of 99280

Shoreco: IBM is (and has for some time been) my number one short pick. Notice that the downgrade note doesn't reference the huge debt that IBM is carting. The profits implosion that IBM is experiencing makes servicing the staggering debt it carries increasingly difficult. The first of several casualties of this fact will be the stock buy-back program (which will NOT be announced, it will just quietly die). And then comes the interesting period when debt servicing becomes the foremost concern of management. I expect to see IBM's stock priced in the mid Forties by the end of the fall and approaching the mid twenties by the spring as the company's problems (which aside from the above, include accounting misbehavior, rising pension fund liabilities and questionable service contract accrual methods), become more widely recognized. Best, Earlie Best, Earlie.

To: shoreco who wrote (80327)	6/18/2002 1:52:57 PM
From: Short A. Few	Respond to of 99280

OT <<IBM downgraded @Morgan Stanley.... Morgan Stanley is not a major shareholder in IBM...>> Analysts must tell us whether or not they own 500 shares; on the other hand, firms like stanley feel no such obligation. Q'est que c'est ". . not a major shareholder" - but are these sharpies planning to add more? or perhaps they are already short 5 million shares. Anyway, only the analyst needs to disclose - not the big market manipulator. We are morons to listen to this Xrap. Pardon the rant, SAF