Re: [CANSLIM] about stocks, but cynical none the less

From: "Winston Little" <wlittle1@peoplepc.com>
Subject: Re: [CANSLIM] about stocks, but cynical none the less
Date: Mon, 8 Jul 2002 02:09:29 -0400

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When Arthur Levitt Jr was Chairman of the SEC, he did make several valiant
efforts to bring changes to the accounting for options by corporations.  He
testified to the Congress about the need for changes when he was
chairman.However, it was an era when anyone with half a brain knew that
YHOO, QCOM, WCOM etc. were going to $1000/share, and Enron would soon be
larger than Exxon/Mobil. ANYONE who got in the way was viewed as "road kill
or a lunatic". Since leaving the SEC, he was asked back to a House panel
looking into the current accounting situation. Most of his words were almost
verbatim of what he had said to them some time ago, yet the questions to him
from the panel was as though they were hearing the words for the first time
(as the circumstances are now different).

Thus, I believe that his current treatise it is not a pretence of 20/20
hindsight, but a re-iteration of his beliefs and convictions to a more
tolerant and humbled audience.

- ----- Original Message -----
From: "oaktoad" <oaktoad@mindspring.com>
To: <canslim@lists.xmission.com>
Sent: Sunday, July 07, 2002 11:52 PM
Subject: [CANSLIM] about stocks, but cynical none the less


> In this month's Bloomberg's Personal Finance (the guy who bought the
> mayorship of NY) .. is an article by Arthur Levitt, Jr. about how bad
option
> accounting is ..
>
> He blasts it pretty hard..
>
> What makes me cynical is the fact that he was in charge of the SEC from
> 1993-2001 and did nothing about this practice.. now he sits in the "20/20
> hindsight seat" and says that it is "very, very bad"
>
>
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