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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: poodle who wrote (8602)	5/9/1998 10:57:00 AM
From: Market Tracker	Read Replies (1) \| Respond to of 18691

Kate Welling's piece in Barron's today does a real hatchet job on DIS. Says Abe Brilof has discovered a hidden "earnings" reserve, used to bolster the earnings picture. A brief excerpt - "Our old friend, accounting professor Abe Briloff, who penned the extraordinary expose of the way Walt Disney has employed a $2.5 billion hidden reserve to bolster its earnings since taking over ABC..." The piece concludes - "An evenhanded treatment of its pro formas would have had Disney reporting not a $68 million, or 21%, increase in its second-quarter net, but a trifling $2 million rise." My Comment - Professor Brilof is considered to be a major league numbers cruncher who will be taken seriously by the market, if the facts bear him out. DIS appears to have some explaining to do MT