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To: SouthFloridaGuy who wrote (18503)	9/26/1998 2:59:00 PM
From: Glenn D. Rudolph	Respond to of 164684

More: Why are so many questions about the quality of earnings arising now? For one, there's a mismatch between today's deal-oriented, high-tech economy and a decades-old accounting system in which only ''real'' assets such as bricks and mortar can be easily valued. Throw in an eight-year bull market in which earnings growth came to be the only measure many investors looked at, and add the pressure those market forces have created on managers to make the numbers look as good as possible. If anyone had set out to invent a system in which the means, motives, and methods to encourage companies to stretch earnings all came together perfectly, they couldn't have done a better job. Glenn