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To: Math Junkie who wrote (16451)	8/9/2002 4:45:49 PM
From: Don Lloyd	Respond to of 42834

Richard, When companies buy back stock, is that accounted for as an expense? If not, should it be? Not being interesting in accounting unless they screw up economic reality, the answer to both is "Probably not, but I don't know." If it were another company's shares being purchased, it would be an investment, and an eventual sale would result in an investment gain or loss. I doubt if it is handled the same way. See my previous posts about the purchase or sale of stock at the market being an economic non-event in the present and an asset allocation risk shift for the future. Regards, Don