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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (14698)	6/26/2002 3:30:35 PM
From: Grommit	Read Replies (2) \| Respond to of 78519

This market sure is spooky. OT. And with good reason. The CEOs and accountants seem to be operating without fear of discovery of fraud. Totally amazing. As a former financial manager who has once or twice had to refuse to play accounting games, I think the prevalence of large stock options in the lap of the financial officer is a conflict of interest. And nothing can be done from where I'm sitting. It sure looks like the only defense is buying a WELL diversified portfolio of companies with no blackmarks anywhere. They need to have a nice history of earnings. And many investors are now leaning toward the notion that even earnings can be risky, so they'd better put the earnings in your hand with a nice dividend. It's hard to restate dividends already paid. I have been leaning heavily toward companies with a real product, solid earnings, nice dividends, reasonable executive compensation and insider buying. I am pleased (and lucky) to report that I can view this market meltdown as an almost unaffected observer. I made my move to safety with the idea of protection against the economy cratering due to anything from consumer confidence to terrorist activity, but those selection criteria seem to protect against accounting bozos also. I owned SVU from 5/2001 to 2/2002. I am considering buying it back -- but after a few days, and after I see some stability and stock price support. Their press release clearly calls this a one time event. Do we believe them? quote.yahoo.com Got some nice BNHN at $17.5 today. :o) grommit