Re: [CANSLIM] Re. A Possible Signal To Unscrupulous Bookeeping

From: "Tom Worley" <stkguru@netside.net>
Subject: Re: [CANSLIM] Re. A Possible Signal To Unscrupulous Bookeeping
Date: Mon, 18 Feb 2002 10:46:06 -0500

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Interesting point of view. Because I only do small and micro cap young
companies, I am not used to getting dividends, so rarely think about them.
But where I have bought a dividend bearing stock, I must admit the size of
the dividend, while small, did tend to grow with earnings.

Maybe just one more tool to put in the kit for further due diligence.

Tom Worley
stkguru@netside.net
AIM: TexWorley
- ----- Original Message -----
From: <JANSI1AUG1@aol.com>
To: <canslim@lists.xmission.com>
Sent: Monday, February 18, 2002 10:05 AM
Subject: [CANSLIM] Re. A Possible Signal To Unscrupulous Bookeeping


> Canslimmers:
>
>      I know not many (if any) high growth stocks have dividends, but this
> item from James Glassman (in techcentralstation.com) might be useful in
> identifying another Enronic-Bookeeping-Wonder (I wonder, appropos of this,
> what Enron's cash-flow was?):
>
> "...Enron paid dividends all during the period when it now admits that it
was
> overstating earnings, but those payouts were curiously flat at a time when
> the company's reported profits were soaring. For example, between 1997 and
> 2000, earnings rose 69 percent but dividends rose just 9 percent. That
could
> have been a sign that something fishy was happening. A company might be
able
> to fake out analysts by booking today paper profits that might possibly
occur
> in the future. But dividends aren't entries on the ledger; they're real
> money. A company that consistently raises its dividend is almost always a
> well-managed company in a strong market niche...."
>
> jans
>
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