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To: Sr K who wrote (84394)	9/2/2008 11:25:54 PM
From: RealMuLan	Respond to of 116555

You actually think this quarter can really get 21.69 and 24.62 in Q4? get real! finfacts.ie "With 96% of the data in, second quarter operating earnings for the S&P 500 are preliminarily set at $17.08 per share compared to $24.06 for the record setting second quarter of 2007. For the fourth consecutive quarter, S&P 500 As Reported earnings also posted a decline, falling 39.1% to $13.32 per share from the record setting $21.88 per share posted during the first quarter of 2007. ..." Here is an old article from the end of last year, it makes GS estimates become such a joke! reuters.com

To: Sr K who wrote (84394)	9/3/2008 11:48:19 AM
From: benwood	Respond to of 116555

oops

To: Sr K who wrote (84394)	9/3/2008 11:49:43 AM
From: benwood	Respond to of 116555

That's true, except in reality since write downs have been used since about 1998 in order to make running earnings look better and have pretty much been on ongoing game, a much better picture for comparing to historical benchmarks is achieved by including some, if not all, of these systematic writedowns. Even worse have been writedowns that are 'ignored' and later appear as 100% profit as the items treated as valueless end up being used/sold. I remember Cisco employing this deception device about 7-8 years ago.