Re: [CANSLIM] Worley's W W - Japan and TYC

From: Spencer48@aol.com
Subject: Re: [CANSLIM] Worley's W W - Japan and TYC
Date: Sun, 10 Feb 2002 13:12:20 EST

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Tom:

     Good Point.  

     I wonder if IBD-in a few days-will also make that point.  It will be 
also be instructive on the financial hazards (concerning accounting 
practices) that awaits us, if WON also begins to disclaim his previous 
warning that stocks below $18 or $16 are too risky. 

jans


In a message dated 2/10/2002 7:14:04 AM Eastern Standard Time, 
stkguru@netside.net writes:

<< As far as avoiding a disaster like Enron, I don't have good answers. Since 
I usually buy small immature companies, I think I am at less risk, most are 
just not sophisticated enough for such a scam. And since all the 
professionals (analysts, fund managers, banks, institutional investors) seem 
to have missed the issues on Enron, I don't feel I lose much in buying stocks 
without lots of analysts and funds behind it. One thing I had already been 
paying more attention to is cash flow compared to earnings. If there is a 
huge difference, especially if ROE is low, then I do further due diligence. 
But if a company can phony up earnings, I guess they can phony up cash flow 
as well. And I think the new accounting standards for reporting earnings will 
make it even easier to fudge the numbers.
  >>

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