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Technology Stocks : AT&T -- Ignore unavailable to you. Want to Upgrade?

To: David C. Burns who wrote (1632)	8/31/1998 1:18:00 PM
From: ahhaha	Read Replies (1) \| Respond to of 4298

That's analysis? You can't make a judgement about a company based upon gossip, who's on CEO, cash flow minus capital expenditures, and what some other company is doing. The cash flow approach is especially airhead. That is an assessment of what the company has done, not what it is doing. It is true that Wall Street only discounts the past, never the future, but it rarely rediscounts the past. I imagine GADR sells if a company increases capital expenditure disproportionately to cash flow. A capital expenditure can only be assessed in its potential to generate future revenues. It can't be properly evaluated by weighing it against cash flow which is the result of actions taken in the past. When companies are entering a growth phase the instantaneous capital expenditures often exceed the instantaneous cash flow sometimes so much that it forces the company to go to the well. I don't see one reason stated for buying ATT. You can't make it in stocks by having tunnel vision and looking backward.