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

To: Paul Senior who wrote (24558)	8/8/2006 10:52:08 PM
From: Spekulatius	Respond to of 78702

Paul, impeccable timing with CSCO as the stock is up almost 10% AH due to a good earnings report. I also added some MXIM (to a more than full position LOL) - stock is unduly punished (IMO) as they missed GAAP earnings (after stock option expensing) but had good operating numbers. MXIM is a stock option sinner - stock related expenses are clearly too high and reduced earnings for the last quarter by 20% (compared to 8% for their closest peer LLTC). however I believe that MXIM expenses are somewhat overstated since they did no accelerated vesting (as LLTC did in 2005) and stock option expensing overstates the economic impact on earnings anyways. After all, as MXIM stock has been trending down, stock options granted in the last few years are pretty much worth nothing right now.