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To: jbe who wrote (22241)	5/18/1998 3:01:00 PM
From: Chuzzlewit	Read Replies (1) \| Respond to of 95453

Good afternoon jbe, OT I should have been more precise when I said search programs (you caught me!), but the point remains that much of the data in the data bases they scan are incorrect. For example, the TYC data you quoted are incorrect. Compare those earnings to what is quoted in the company's 10-K. Or look at the company's latest press release regarding earnings: go2net.newsalert.com That's why I contend that it is very important to cross check data. Certainly, using a computerized database eases the chore, but it is easy to overlook excellent companies because of incrrect data. TYC is one of several companies I own whose financial data are incorrectly reported by Yahoo!. Generating various ratios requires a good deal of judgement. Because of the sheer volume of data, mechanically calculated metrics can totally misrepresent reality. For example, a company with sales close to break-even will tend to have a very high p/e, and in the absence of additional research it might be tempting to conclude that the company is a hare, when in fact it might be a tortoise. It must be obvious to you that I much prefer pencil and paper to computerized analysis, and similarly prefer the printed page to a monitor. By the way, I much prefer discussions like ours to whether ABCco was up or down an eighth. I wish more people in the thread would get involved -- maybe its boring them. TTFN, CTC