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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: cfimx who wrote (51380)	3/11/1999 1:36:00 PM
From: Michael Bakunin	Read Replies (1) \| Respond to of 132070

Actually, I find the disclosure inadequate and the method flawed. Recall my post from February #reply-7803924. Take their estimate of volatility of 30%. MSFT options sell in the market at around 45%. Oopsie. This alone makes their pro-forma calculations suspect. Feel free to peruse my post and give a little thought to the rest of the accounting. I find it unfortunate in several other ways, which I would love to discuss -- except that one of my Microsoft applications has just died an inglorious death, and I have to reboot now. Ironic, eh? mb

To: cfimx who wrote (51380)	3/11/1999 4:09:00 PM
From: Mike M2	Read Replies (1) \| Respond to of 132070

Twister, adequate disclosure does not mean there is adequate understanding. I am sure that we have all heard of stories about individuals who thought that a mutual fund purchased at a bank was insured. There have also been stories about investors who expect 20 -30 % returns for many years to come. sorry -no urls I don't bother tracking this stuff. The only thing many investors know is that they have been told repeatedly stock go up in the long run. The fact that they can go down substantially for an extended period of time is glossed over. The 20's are ancient history to most so lets look at Japan the Nikkei peaked late in 1989 at about 38900 it is now about 15500. Is the public prepared for this type of decline and will they really stay the course.I doubt it. Many Japanese investors did not stay the course. Mike