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To: GST who wrote (50351)4/14/1999 6:21:00 PM
From: KeepItSimple  Respond to of 164684
 
First Call just lost all credibility.

A rep was just on CNBC discussing how first call has decided, "upon the insistence of analysts" to start reporting two sets of numbers for 20 internet stocks. A "real" earnings number, and a "hype" earnings number that excludes any aquisition charges- but INCLUDES ANY REVENUE AND PROFIT THAT AQUISITION ADDS TO THE BOTTOM LINE.

Yes folks, we truly have reached the height of insanity.

About the only thing more idiotic would be if first call decides to add 20 cents per share earnings to every ".com" company, because "the analysts agreed that the numbers were too small before."

I literally cannot believe what's going on. I guess that's because the market has completely gone insane. I wish I had been around in the 20's to be able to compare this mania with '29..



To: GST who wrote (50351)4/14/1999 7:43:00 PM
From: Henry Niman  Read Replies (1) | Respond to of 164684
 
GST, I had a somewhat different take on the talk. I thought that her comments on small and mid-caps was a signal that the larger companies indeed were fully valued, and investors would be rotating funds into the smaller companies, which had much lower valuations. I also think that the sector rotation was another example of investors moving away from the leaders and it other sectors which had more attractive valuations.