From: owner-canslim-digest@lists.xmission.com (canslim-digest) To: canslim-digest@lists.xmission.com Subject: canslim-digest V2 #2515 Reply-To: canslim Sender: owner-canslim-digest@lists.xmission.com Errors-To: owner-canslim-digest@lists.xmission.com Precedence: bulk Content-Transfer-Encoding: quoted-printable X-No-Archive: yes canslim-digest Wednesday, June 26 2002 Volume 02 : Number 2515 In this issue: Re: [CANSLIM] WCOM restatement [CANSLIM] Volume RE: [CANSLIM] Volume RE: [CANSLIM] WCOM restatement Re: [CANSLIM] WCOM restatement Re: [CANSLIM] WCOM restatement Re: [CANSLIM] Volume RE: [CANSLIM] WCOM restatement Re: [CANSLIM] WCOM restatement RE: Red Flag FAQ Formerly: [CANSLIM] WCOM restatement Re: [CANSLIM] WCOM restatement RE: Red Flag FAQ Formerly: [CANSLIM] WCOM restatement ---------------------------------------------------------------------- Date: Wed, 26 Jun 2002 08:34:27 -0400 From: "Winston Little" 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" To: 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]" > 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 > > > > > > > > - > > -To subscribe/unsubscribe, email "majordomo@xmission.com" > > -In the email body, write "subscribe canslim" or > > -"unsubscribe canslim". Do not use quotes in your email. > > > > - > > -To subscribe/unsubscribe, email "majordomo@xmission.com" > > -In the email body, write "subscribe canslim" or > > -"unsubscribe canslim". Do not use quotes in your email. > > > ===== > Opportunities always look bigger going than coming. > > __________________________________________________ > Do You Yahoo!? > Yahoo! - Official partner of 2002 FIFA World Cup > http://fifaworldcup.yahoo.com > > - > -To subscribe/unsubscribe, email "majordomo@xmission.com" > -In the email body, write "subscribe canslim" or > -"unsubscribe canslim". Do not use quotes in your email. > - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Wed, 26 Jun 2002 08:38:17 -0400 From: "Winston Little" Subject: [CANSLIM] Volume This is a multi-part message in MIME format. - ------=_NextPart_000_004F_01C21CEC.D1C678E0 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable =20 Volume today: Any takers on 3.5 billion shares on NASD, 2.5 billion on NYSE? - ------=_NextPart_000_004F_01C21CEC.D1C678E0 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable
   
Volume today:
 
Any takers on 3.5 billion shares on NASD, 2.5 = billion on=20 NYSE?
- ------=_NextPart_000_004F_01C21CEC.D1C678E0-- - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Wed, 26 Jun 2002 07:48:34 -0500 From: "Fred Richards" Subject: RE: [CANSLIM] Volume This is a multi-part message in MIME format. - ------=_NextPart_000_0027_01C21CE5.DFE65D20 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: 7bit What? You don't think the PPT will be in there to start a rally! Shame on you. -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com]On Behalf Of Winston Little Sent: Wednesday, June 26, 2002 7:38 AM To: canslim@lists.xmission.com Subject: [CANSLIM] Volume Volume today: Any takers on 3.5 billion shares on NASD, 2.5 billion on NYSE? - ------=_NextPart_000_0027_01C21CE5.DFE65D20 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable
What?  You don't think the PPT will be in there to start a = rally!  Shame on you.
 
 
-----Original Message-----
From:=20 owner-canslim@lists.xmission.com=20 [mailto:owner-canslim@lists.xmission.com]On Behalf Of Winston=20 Little
Sent: Wednesday, June 26, 2002 7:38 AM
To:=20 canslim@lists.xmission.com
Subject: [CANSLIM]=20 Volume

   
Volume today:
 
Any takers on 3.5 billion shares on NASD, 2.5 = billion on=20 NYSE?
- ------=_NextPart_000_0027_01C21CE5.DFE65D20-- - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Wed, 26 Jun 2002 09:06:54 -0400 From: "Rocky Sanghvi" Subject: RE: [CANSLIM] WCOM restatement 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" To: 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]" > 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 > > > > > > > > - > > -To subscribe/unsubscribe, email "majordomo@xmission.com" > > -In the email body, write "subscribe canslim" or > > -"unsubscribe canslim". Do not use quotes in your email. > > > > - > > -To subscribe/unsubscribe, email "majordomo@xmission.com" > > -In the email body, write "subscribe canslim" or > > -"unsubscribe canslim". Do not use quotes in your email. > > > ===== > Opportunities always look bigger going than coming. > > __________________________________________________ > Do You Yahoo!? > Yahoo! - Official partner of 2002 FIFA World Cup > http://fifaworldcup.yahoo.com > > - > -To subscribe/unsubscribe, email "majordomo@xmission.com" > -In the email body, write "subscribe canslim" or > -"unsubscribe canslim". Do not use quotes in your email. > - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Wed, 26 Jun 2002 09:28:29 EDT From: Spencer48@aol.com Subject: Re: [CANSLIM] WCOM restatement Tom: I've heard on TV that it wasn't a "deviation" from GAAP. From what I understand, there are options that an accountant/bookkeeper can use, and Anderson chose capital expensing what normally would be a regular expense item. In my opinion, it was just a matter of time before such horrendous manipulation of any company's books was discovered (The question isn't why did it take so long to discover, but rather, what company will be the next to reveal that they falsified records. And I wouldn't be at all surprised that there are a lot of them out there.) Unfortunately, accountants have learned from lawyers how to obfuscate the truth and maneuver the justice system in order that lying can be put in the best possible light, and truth and accuracy can be avoided. That's why GAAP (I believe) covered up (instead of revealing) WorldCom's problems. As for CANSLIM: I wonder how WON believes we can now fundamentally analyze a company-especially after its been revealed that WorldCom's Cash-Flow is bogus. A few weeks ago, WON said: Look at the cash-flow to see that earnings are really funneling down-into the bottom line. Now what's he going to say? Probably, look at the managers of the companies to see if they have a history of dishonesty. Unfortunately, though, I don't believe that will cut it. Even if the manager is scrupulously honest, Enron and WorldCom teach us that that is not enough. The ACCOUNTANTS also must be honest. So now will WON's injunction be to: Look at the history of the accounting firm, and the history of the accountants employed by the accounting firm, who work on the company's books? jans In a message dated 6/26/2002 12:53:51 AM Eastern Daylight Time, stkguru@bellsouth.net writes: << 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)?? >> - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Wed, 26 Jun 2002 06:31:02 -0700 (PDT) From: Dave Cameron Subject: Re: [CANSLIM] WCOM restatement I thought that was Veruca Salt from Willy Wonka and the Chocolate Factory. - --- Winston Little wrote: > > 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" > To: > 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]" > > > 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 > > > > > > > > > > > > - > > > -To subscribe/unsubscribe, email "majordomo@xmission.com" > > > -In the email body, write "subscribe canslim" or > > > -"unsubscribe canslim". Do not use quotes in your email. > > > > > > - > > > -To subscribe/unsubscribe, email "majordomo@xmission.com" > > > -In the email body, write "subscribe canslim" or > > > -"unsubscribe canslim". Do not use quotes in your email. > > > > > > ===== > > Opportunities always look bigger going than coming. > > > > __________________________________________________ > > Do You Yahoo!? > > Yahoo! - Official partner of 2002 FIFA World Cup > > http://fifaworldcup.yahoo.com > > > > - > > -To subscribe/unsubscribe, email "majordomo@xmission.com" > > -In the email body, write "subscribe canslim" or > > -"unsubscribe canslim". Do not use quotes in your email. > > > > > - > -To subscribe/unsubscribe, email "majordomo@xmission.com" > -In the email body, write "subscribe canslim" or > -"unsubscribe canslim". Do not use quotes in your email. ===== Dave Cameron dfcameron@yahoo.com __________________________________________________ Do You Yahoo!? Yahoo! - Official partner of 2002 FIFA World Cup http://fifaworldcup.yahoo.com - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Wed, 26 Jun 2002 09:32:32 -0400 From: "Winston Little" Subject: Re: [CANSLIM] Volume This is a multi-part message in MIME format. - ------=_NextPart_000_0070_01C21CF4.65A4EAE0 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable No, I expect a big rally for lawyers and jails. There may be too many crooked CEO and CFO for the existing ones.=20 ----- Original Message -----=20 From: Fred Richards=20 To: canslim@lists.xmission.com=20 Sent: Wednesday, June 26, 2002 8:48 AM Subject: RE: [CANSLIM] Volume What? You don't think the PPT will be in there to start a rally! = Shame on you. -----Original Message----- From: owner-canslim@lists.xmission.com = [mailto:owner-canslim@lists.xmission.com]On Behalf Of Winston Little Sent: Wednesday, June 26, 2002 7:38 AM To: canslim@lists.xmission.com Subject: [CANSLIM] Volume =20 Volume today: Any takers on 3.5 billion shares on NASD, 2.5 billion on NYSE? - ------=_NextPart_000_0070_01C21CF4.65A4EAE0 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable
No, I expect a big rally for lawyers and = jails.
There may be too many crooked CEO and CFO =  for the=20 existing ones. 
 
----- Original Message -----
From:=20 Fred = Richards
Sent: Wednesday, June 26, 2002 = 8:48=20 AM
Subject: RE: [CANSLIM] = Volume

What?  You don't think the PPT will be in there to start = a=20 rally!  Shame on you.
 
 
-----Original Message-----
From: owner-canslim@lists.xmis= sion.com=20 [mailto:owner-canslim@lists.xmission.com]On Behalf Of Winston = Little
Sent: Wednesday, June 26, 2002 7:38 = AM
To: canslim@lists.xmission.com=
Subject:=20 [CANSLIM] Volume

   
Volume today:
 
Any takers on 3.5 billion shares on NASD, 2.5 = billion on=20 NYSE?
- ------=_NextPart_000_0070_01C21CF4.65A4EAE0-- - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Wed, 26 Jun 2002 06:33:41 -0700 (PDT) From: Dave Cameron 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 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" > To: > 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]" > > > 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 > > > > > > > > > > > > - > > > -To subscribe/unsubscribe, email "majordomo@xmission.com" > > > -In the email body, write "subscribe canslim" or > > > -"unsubscribe canslim". Do not use quotes in your email. > > > > > > - > > > -To subscribe/unsubscribe, email "majordomo@xmission.com" > > > -In the email body, write "subscribe canslim" or > > > -"unsubscribe canslim". Do not use quotes in your email. > > > > > > ===== > > Opportunities always look bigger going than coming. > > > > __________________________________________________ > > Do You Yahoo!? > > Yahoo! - Official partner of 2002 FIFA World Cup > > http://fifaworldcup.yahoo.com > > > > - > > -To subscribe/unsubscribe, email "majordomo@xmission.com" > > -In the email body, write "subscribe canslim" or > > -"unsubscribe canslim". Do not use quotes in your email. > > > > > - > -To subscribe/unsubscribe, email "majordomo@xmission.com" > -In the email body, write "subscribe canslim" or > -"unsubscribe canslim". Do not use quotes in your email. > > > > - > -To subscribe/unsubscribe, email "majordomo@xmission.com" > -In the email body, write "subscribe canslim" or > -"unsubscribe canslim". Do not use quotes in your email. ===== Dave Cameron dfcameron@yahoo.com __________________________________________________ Do You Yahoo!? Yahoo! - Official partner of 2002 FIFA World Cup http://fifaworldcup.yahoo.com - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Wed, 26 Jun 2002 09:43:01 EDT From: Spencer48@aol.com Subject: Re: [CANSLIM] WCOM restatement Rocky: With our accounting woes, I have a feeling that the "safety" will be going into gold stocks. jans In a message dated 6/26/2002 9:18:18 AM Eastern Daylight Time, rs@mylodestar.com writes: << 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. >> - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Wed, 26 Jun 2002 09:43:22 -0400 From: "Duke Miller" Subject: RE: Red Flag FAQ Formerly: [CANSLIM] WCOM restatement Well said. Unfortunately, and this isn't the first time this thought has been expressed, this and the future ones hiding in the woodwork, could very well spell the doom of the American stock market as we know it today. A radio columnist (Democracy Now) just yesterday was ruminating over the impact on the markets if (when) foreign stockholders decide to take their money and run...away from "America's painfully corrupt financial markets." I have a suggestion (NOT my usual tongue in cheek, friends) for a group project...a public service to all of us CAN SLIMers. What if we create a FAQ on how to avoid these slime balls? Should we start with Andersen Consulting's client(former) list. I tried their website; no luck. Then how about a list of tips on what to look for in SEC filings to ferret out red flags. Duke - -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com] On Behalf Of Kent Norman Sent: Wednesday, June 26, 2002 8:13 AM To: canslim@lists.xmission.com 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]" 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 > > > > - > -To subscribe/unsubscribe, email "majordomo@xmission.com" > -In the email body, write "subscribe canslim" or -"unsubscribe > canslim". Do not use quotes in your email. > > - > -To subscribe/unsubscribe, email "majordomo@xmission.com" > -In the email body, write "subscribe canslim" or -"unsubscribe > canslim". Do not use quotes in your email. ===== Opportunities always look bigger going than coming. __________________________________________________ Do You Yahoo!? Yahoo! - Official partner of 2002 FIFA World Cup http://fifaworldcup.yahoo.com - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Wed, 26 Jun 2002 09:47:30 -0400 From: "Winston Little" 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" To: 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 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" > > To: > > 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]" > > > > > 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 > > > > > > > > > > > > > > > > - > > > > -To subscribe/unsubscribe, email "majordomo@xmission.com" > > > > -In the email body, write "subscribe canslim" or > > > > -"unsubscribe canslim". Do not use quotes in your email. > > > > > > > > - > > > > -To subscribe/unsubscribe, email "majordomo@xmission.com" > > > > -In the email body, write "subscribe canslim" or > > > > -"unsubscribe canslim". Do not use quotes in your email. > > > > > > > > > ===== > > > Opportunities always look bigger going than coming. > > > > > > __________________________________________________ > > > Do You Yahoo!? > > > Yahoo! - Official partner of 2002 FIFA World Cup > > > http://fifaworldcup.yahoo.com > > > > > > - > > > -To subscribe/unsubscribe, email "majordomo@xmission.com" > > > -In the email body, write "subscribe canslim" or > > > -"unsubscribe canslim". Do not use quotes in your email. > > > > > > > > > - > > -To subscribe/unsubscribe, email "majordomo@xmission.com" > > -In the email body, write "subscribe canslim" or > > -"unsubscribe canslim". Do not use quotes in your email. > > > > > > > > - > > -To subscribe/unsubscribe, email "majordomo@xmission.com" > > -In the email body, write "subscribe canslim" or > > -"unsubscribe canslim". Do not use quotes in your email. > > > ===== > Dave Cameron > dfcameron@yahoo.com > > __________________________________________________ > Do You Yahoo!? > Yahoo! - Official partner of 2002 FIFA World Cup > http://fifaworldcup.yahoo.com > > - > -To subscribe/unsubscribe, email "majordomo@xmission.com" > -In the email body, write "subscribe canslim" or > -"unsubscribe canslim". Do not use quotes in your email. > - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Wed, 26 Jun 2002 09:50:03 -0400 From: "Duke Miller" Subject: RE: Red Flag FAQ Formerly: [CANSLIM] WCOM restatement On second thought.... Is it not true that no matter what scrutiny we put SEC filings to, day before yesterday, we would not have discovered (on our own) this evil deception? I think I'm going to be sick. Duke - -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com] On Behalf Of Duke Miller Sent: Wednesday, June 26, 2002 9:43 AM To: canslim@lists.xmission.com Subject: RE: Red Flag FAQ Formerly: [CANSLIM] WCOM restatement Well said. Unfortunately, and this isn't the first time this thought has been expressed, this and the future ones hiding in the woodwork, could very well spell the doom of the American stock market as we know it today. A radio columnist (Democracy Now) just yesterday was ruminating over the impact on the markets if (when) foreign stockholders decide to take their money and run...away from "America's painfully corrupt financial markets." I have a suggestion (NOT my usual tongue in cheek, friends) for a group project...a public service to all of us CAN SLIMers. What if we create a FAQ on how to avoid these slime balls? Should we start with Andersen Consulting's client(former) list. I tried their website; no luck. Then how about a list of tips on what to look for in SEC filings to ferret out red flags. Duke - -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com] On Behalf Of Kent Norman Sent: Wednesday, June 26, 2002 8:13 AM To: canslim@lists.xmission.com 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]" 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 > > > > - > -To subscribe/unsubscribe, email "majordomo@xmission.com" > -In the email body, write "subscribe canslim" or -"unsubscribe > canslim". Do not use quotes in your email. > > - > -To subscribe/unsubscribe, email "majordomo@xmission.com" > -In the email body, write "subscribe canslim" or -"unsubscribe > canslim". Do not use quotes in your email. ===== Opportunities always look bigger going than coming. __________________________________________________ Do You Yahoo!? Yahoo! - Official partner of 2002 FIFA World Cup http://fifaworldcup.yahoo.com - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ End of canslim-digest V2 #2515 ****************************** To unsubscribe to canslim-digest, send an email to "majordomo@xmission.com" with "unsubscribe canslim-digest" in the body of the message. For information on digests or retrieving files and old messages send "help" to the same address. Do not use quotes in your message.