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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: Jacob Snyder who wrote (61375)	9/19/2002 5:33:34 PM
From: Ed Forrest	Respond to of 77400

Anyway, I've put in an order to sell all my CSCO at 15 (above my average cost basis). IMO, this will be a trading stock for years to come. Jacob Excellent plan and I agree with your opinion that Cisco will be a trading stock for the foreseeable future. I came to that conclusion in 4-01 and have traded it on a regular basis since. It’s been a fruitful venture. Cheers Ed

To: Jacob Snyder who wrote (61375)	9/19/2002 5:34:37 PM
From: Lizzie Tudor	Read Replies (1) \| Respond to of 77400

And, in the tech world, not counting employee stock options as an expense, is probably THE biggest example of Creative Accounting. Yet managements just don't GET IT. They are still making excuses, lobbying hard in Washington against reform, and hoping investors will continue to SuspendDisbelief. The problem is that there is this very vocal group of option expensing hawks and no evidence exists that the shareholders are as a whole, have the same motivations. The options expensing crusade lost a lot of steam by putting forth the black scholes approach too... which couldn't even gain support from a majority of accountants. Lizzie

To: Jacob Snyder who wrote (61375)	9/19/2002 5:37:40 PM
From: chaz	Read Replies (1) \| Respond to of 77400

Jacob... 1. The continued Creative Accounting puts a hard ceiling on the stock price. Even once the recession is over, and IT budgets come back, investors won't allow the stock price to sustain any move over 20. It becomes routine for analyst reports, and the business press, to state EPS (and value the stock), with options costs included. That's too rosy a view. If it were to become so, then brokers would have little means to sell the stock. Even if the present option/dilution of earnings scenario were to persist into the next market, brokers would use increased revenue as a demand carrot, and the price would rise. It would devolve into a business as usual situation, nothing would have been fixed, we'd be set up for profitless gains all over again. Chaz