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To: Lucretius who wrote (27590)	3/24/1999 7:21:00 PM
From: IceShark	Respond to of 86076

It will sure lather up the Dull bulls. damn

To: Lucretius who wrote (27590)	3/24/1999 9:39:00 PM
From: Earlie	Read Replies (3) \| Respond to of 86076

L.T. A few months ago, I wrote a piece on IBM's cruddy numbers, going back over the preceding 10 quarters. Aside from an ugly deterioration in the quality of the revenues, every single important number was "flat-to-down" for the entire period. Revenues, margins, op earnings, etc. Even worse, shareholder equity declined precipitously, courtesy of Louis' manic stock buy-backs financed through burgeoning debt. I pointed out that over the same period, the stock price rose more than 300%. Is this a mania or what? (g) I do not know what it will take to lever this bloated egg from the wall, but I hope I'm both around and Put-exposed. (g) Best, Earlie