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To: David who wrote (2397)3/31/1998 11:39:00 PM
From: Todd N. Weisrock  Read Replies (2) | Respond to of 3506
 
Yes, but who among us will hold any stock until "the end"?

Until then, perception is reality.

And perception is driven by PR, news, rumors, the impact that the general market or other companies have on one's perception, the weather, etc.

Plenty of companies have fallen out of favor because of poor perception. Recently, a magazine dropped coverage of Ampex Corp (Amex: AXC) because they couldn't get any news out of them. Dropping coverage impacted the stock, but had NOTHING to do with earnings.

I would go so far as to say perception is MORE important than earnings, as earnings come out a finite number of times per year, while perception and its influences never cease to change.