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

To: GVTucker who wrote (62931)	2/5/2003 3:26:24 PM
From: Lizzie Tudor	Read Replies (1) \| Respond to of 77400

To say that Black Scholes shouldn't be used because it isn't a 100% accurate method Plug in the numbers for Siebel over the past 7 years and its tough to make the case for Black Scholes, the picture is so grossly distorted. Your point about depreciation is well taken and thats why we have EBITDA. Maybe we need something like that if this options expensing thing comes down. Imo investors are already proforma'ing out options "expenses" for the companies that are choosing to do it. Amazon is one. With their options treatment the numbers weren't that good. The stock held or rallied after the numbers in this bad mkt. Investors don't care about options, they know this is only dilution and the entire debate is brouhaha and tit-for-tat over the 90s excesses thats my opinion anyway. Lizzie