Tendency of Earnings Estimates to Fall, Con't.

[Carl Remick]

>Carl Remick wrote:
>
>>Not to worry.  Consider Doug's soothing words of Feb. 4:  "Lenin ...
>>said that company accounts were getting increasingly murky, in order
>>to hide all kinds of self-dealing and other financial chicanery.
>>While there are some exceptions, this is hardly an accurate
>>description of the present, when 'transparency' is all the rage."
>
>So how do we know about Lucent, why did the WSJ run a front-page
>story about their chicanery the other week, why is the SEC
>investigating, and why is their stock price about 90% off their high? ...
>
>Doug

All of which means what?  That Lucent is an isolated phenomenon, or merely 
one of the first major instances of systemic fraud to come to light?  Lucent 
may merely be the Penn Square Bank of our times, a harbinger of still worse 
institutionalized scandals to follow.

Carl

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