RE: [CANSLIM] WCOM restatement

From: "Rocky Sanghvi" <rs@mylodestar.com>
Subject: RE: [CANSLIM] WCOM restatement
Date: Wed, 26 Jun 2002 09:06:54 -0400

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I wish I could say that today coming blowoff will be the last one.  There
are other skeletons in the closet.  More importantly the impact of the
dropping dollar will be enormous in our highly leveraged financial system.

From ECON 101
Until now we were managing to balance our foreign deficits by inflow of cash
from other countries into our markets.  The falling dollar is an indication
that money is moving OUT of the country.  Watch out for the ripple effects.

Unless ofcourse we attack Iraq immediately and thereby create "a demand" for
the the safety of the American dollar.  ;)   I guess I am cynical.  Today
the market lost me as an investor for a very long time.  I quit.

- -----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com]On Behalf Of Winston Little
Sent: Wednesday, June 26, 2002 8:34 AM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] WCOM restatement



The mantra of the clowns:
"I want it ALL"
"Give it to me NOW"
"It is MINE, I deserve it"

- ----- Original Message -----
From: "Kent Norman" <kent_norman@yahoo.com>
To: <canslim@lists.xmission.com>
Sent: Wednesday, June 26, 2002 8:12 AM
Subject: RE: [CANSLIM] WCOM restatement


> The answer is:
>
> The same childish, short-sighted, immediate satisfaction that blinds
> them to the possibility that there is a tomorrow... They run the
> business like they live their life. All today and no tomorrow.
>
> Kent Norman
>
> --- "Cefaloni, John L Jr. [AMSTA-AR-WEA]" <john.cefaloni@us.army.mil>
> wrote:
> > Well said, Tom.  What is it that makes people do things for temporary
> > gain
> > when they know they'll probably get slammed for it in the future?
> >
> > I guess it's just greed, stupidity and arrogance.
> >
> > -----Original Message-----
> > From: Tom Worley [mailto:stkguru@bellsouth.net]
> > Sent: Wednesday, June 26, 2002 12:53 AM
> > To: CANSLIM
> > Subject: [CANSLIM] WCOM restatement
> >
> >
> > once again, Andersen strikes again, this time by signing off on
> > Worldcom
> > hiding over $3 billion in expenses as capital expenditures, and thus
> > inflating cash flow. Restatement expected to take away last five
> > quarters of
> > profits and turn them into losses.
> >
> > Who gave this sanction to a deviation from GAAP (Generally Accepted
> > Accounting Principles)?? Andersen, of course. It's clear that Enron
> > was only
> > the tip of the iceberg, as if Waste Management, Sunbeam, and a host
> > of other
> > companies were not sufficient warning of major problems in corporate
> > policy
> > and infrastructure. Sad to see a great name like Andersen prostituted
> > to
> > selling its certification services for any price, but also clear that
> > it
> > must disappear from corporate America. And until every major company
> > audited
> > by Andersen undergoes a special review by the SEC on accounting
> > practices, I
> > doubt anyone will believe that we have finally seen it all.
> >
> > Tom Worley
> > stkguru@bellsouth.net
> > AIM: TexWorley
> >
> >
> >
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>
> =====
> Opportunities always look bigger going than coming.
>
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