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Technology Stocks : Siebel Systems (SEBL) - strong buy? -- Ignore unavailable to you. Want to Upgrade?

To: Reginald Middleton who wrote (2211)	10/19/1998 6:27:00 PM
From: Wizard	Respond to of 6974

>>In reality, there is no such thing as a discretionary operating expense that has a benefit that lasts past the year of initial cash outlay. I don't agree with you. SEBL doesn't capitalize or amortize its R&D and the R&D dollars spent this year benefit well beyond this year. Likewise for Microsoft. >>Marketing is not an operating expense when it does not need to be performed to insure consistent operation of the company. ok, then please provide a way to account for this. that definition of marketing sounds awfully ambiguous to me. >>Think of it in terms of a shareholder, and not that of an accountant. agreed