Re: [CANSLIM] WCOM restatement

From: "Winston Little" <wlittle1@peoplepc.com>
Subject: Re: [CANSLIM] WCOM restatement
Date: Wed, 26 Jun 2002 11:57:00 -0400
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Jon:
What was Schwart planning to do with the gold .... wear it or eat it?

- ----- Original Message -----
From: "J. Lobatto" <jlobatto@nyc.rr.com>
To: <canslim@lists.xmission.com>
Sent: Wednesday, June 26, 2002 11:47 AM
Subject: Re: [CANSLIM] WCOM restatement


> PS- For anyone who wants to read a brief but very vivid close up account
of
> that fateful day in 1987, I recommend Marty Schwartz's "Pitbull". It has a
> short section on the day of the crash when Marty went to his safe deposit
> box to "get the gold" as he was one of those that expected the whole
system
> to come undone. He states in the book that the public will never know how
> close we came to the events he feared.....
>
> Jon
> ----- Original Message -----
> From: "Kelly Short" <kelly.short@neoris.com>
> To: <canslim@lists.xmission.com>
> Sent: Wednesday, June 26, 2002 11:25 AM
> Subject: RE: [CANSLIM] WCOM restatement
>
>
> If I were new to this earth and had just learned what the US stock market
> was by reading the comments shared this morning post-Worldcom I'd think
the
> stock market was going bye-bye. I'll admit- I'm still wet behind the ears
> when it comes to investing experience but I can't for a minute believe
that
> the same types of comments weren't passed around (albeit pre-Internet,
> shiver) regarding the 1987 crash. Can anyone remember back that far? I am
> correct and memory short? Or this truly "new"? Sorry folks- I was in the
> sixth grade in 1987.
>
> Kelly
>
> P.S. - thanks for the "Wall Street" quotes- it's the most used DVD I own!
>
> -----Original Message-----
> From: Cefaloni, John L Jr. [AMSTA-AR-WEA]
> [mailto:john.cefaloni@us.army.mil]
> Sent: Wednesday, June 26, 2002 10:18 AM
> To: 'canslim@lists.xmission.com'
> Subject: RE: [CANSLIM] WCOM restatement
>
>
> At the risk of being corny, I thought I'd dig up some quotes from the
movie
> "Wall Street" (because Hollywood tells us everything we need to know about
> life ;-)
>
> "The main thing about money, Bud, is that it makes you do things you don't
> want to do."
>
> "Stop going for the easy buck and start producing something with your
life.
> Create, instead of living off the buying and selling of others."
>
> "Stick to the fundamentals.  That's how IBM and Hilton were built."
>
> "There are no shotcuts.  Quick-buck artists come and go with every bull
> market, but the steady players make it through the bear markets."
>
> "You're on a roll, kid.  Enjoy it while it lasts, becuase it never does."
>
> and, of course...
>
> "Man looks in the abyss, there's nothing staring back at him. At that
> moment, man finds his character. And that is what keeps him out of the
> abyss."
>
> Of course, the movie is packed with many more "bullish" quotes, but those
> will have to wait for another day.
>
> -----Original Message-----
> From: Winston Little [mailto:wlittle1@peoplepc.com]
> Sent: Wednesday, June 26, 2002 10:33 AM
> To: canslim@lists.xmission.com
> Subject: Re: [CANSLIM] WCOM restatement
>
>
> People in the rust belt are back in style.
>
> I believe the expression is "The meek shall inherit the earth".
> There is merit to the people who work and sweat for a living, instead of
the
> glorified crooks of the past three years.
> Remember all those clowns forming companies (with NO EARNINGS) that had
> market capitalization greater than that of General Motors?
>
> Today:
> Lear LEI is up.They make car seats and interior parts.
> Delphi DPH guided up yesterday. They make electronic parts for cars
(mostly
> GM).
> Visteon VC guided up this morning.They make car parts (mostly for Ford).
> P&G ( as Duke pointed out) is up. Soap, toothpaste and paper towels.
> Donnelly DON  (mirrors for cars) is to be bought out by Magna (they make
car
> parts) at 38% premium.
>
>
>
>
> ----- Original Message -----
> From: "Duke Miller" <dukemill@tampabay.rr.com>
> To: <canslim@lists.xmission.com>
> Sent: Wednesday, June 26, 2002 10:07 AM
> Subject: RE: [CANSLIM] WCOM restatement
>
>
> > Absolutely.
> >
> > P&G is up over $1 at the open this a.m.  Up 16% this year.  43% last two
> > years.  Soap, toothpaste, quality people.  All things you can count
> > (on).
> >
> > Duke
> >
> > (I do have a position in P&G)
> >
> > -----Original Message-----
> > From: owner-canslim@lists.xmission.com
> > [mailto:owner-canslim@lists.xmission.com] On Behalf Of Winston Little
> > Sent: Wednesday, June 26, 2002 9:48 AM
> > To: canslim@lists.xmission.com
> > Subject: Re: [CANSLIM] WCOM restatement
> >
> >
> > There may be some merit to companies that make goods that I can see,
> > touch and count such as houses, cars, chemicals.
> >
> > There may also be some merit to companies that pay dividends, as the
> > crooks are less likely to borrow or steal funds to pay dividends.
> >
> >
> > ----- Original Message -----
> > From: "Dave Cameron" <dfcameron@yahoo.com>
> > To: <canslim@lists.xmission.com>
> > Sent: Wednesday, June 26, 2002 9:33 AM
> > Subject: RE: [CANSLIM] WCOM restatement
> >
> >
> > > Rocky (and all),
> > >
> > > Yeah... this is amazing.   As a professional statistician, the recent
> > > events show why I don't use classical statistical techniques in
> > > investing.   I sold all my individual holdings in November - haven't
> > > bought back in.   Still hold the mutual funds for long term, but
> > > continue to watch them dwindle.
> > >
> > > My line to people at work is that I'll be working until I'm 80....
> > >
> > > Dave
> > >
> > > --- Rocky Sanghvi <rs@mylodestar.com> wrote:
> > > > 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.
> > > > >
> > > > > __________________________________________________
> > > > > Do You Yahoo!?
> > > > > Yahoo! - Official partner of 2002 FIFA World Cup
> > > > > http://fifaworldcup.yahoo.com
> > > > >
> > > > > -
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> > >
> > > =====
> > > Dave Cameron
> > > dfcameron@yahoo.com
> > >
> > > __________________________________________________
> > > Do You Yahoo!?
> > > Yahoo! - Official partner of 2002 FIFA World Cup
> > > http://fifaworldcup.yahoo.com
> > >
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