Forum Archive Index - June 2002

[nickk@quicksilver.net.nz]

Totally agree here ben.

Makes for a boring life sometimes!

Nk

Ben Dutton writes:

> Hi Morgy,
> 
> Yes, you're right - it is at times like this where the dirt gets exposed.  I 
>guess in a strong bull market investors and institutions are willing to look 
>past creative accounting etc. because everyone's making so much money (just 
>look at the tech bubble for examples) - the situation changes when everyone 
>starts losing money though.
> 
> However, I do think (and call me a believer in capitalism to the end here) 
>that Worldcom and Enron are anomalies.  The people that cooked the books in 
>those companies are criminals - they broke the law plain and simple.  I don't 
>think we'll see many more high-profile incidents like those two - I could be 
>wrong but I do think that the majority of companies are honest and report 
>honestly.  Of course that's pretty boring so we don't see headlines like "Wal 
>Mart reports honestly - again!" across the front pages of newspapers and on TV.
> 
> Best Regards
> 
> Ben Dutton
> 
>   ----- Original Message ----- 
>   From: Morgy 
>   To: sharechat@sharechat.co.nz 
>   Sent: Friday, June 28, 2002 7:39 AM
>   Subject: [sharechat] Ben - market timing
> 
> 
>   Ben
> 
>   Would you not agree that this is exactly the time that these things come 
>out ? You would of course recall the collapse of Equitycorp & a few others 
>soon after the 87 crash put the heat on these guys. The linked article you 
>posted was a good indication of where wall street is at, plenty more bad news 
>to come. 
> 
> 
>   Morgy
> 
> 
>   ----- Original Message ----- 
>     From: Ben Dutton 
>     To: sharechat@sharechat.co.nz 
>     Sent: Wednesday, June 26, 2002 5:54 PM
>     Subject: Re: [sharechat] Quick competition- how far dow fall today?
> 
> 
>     Nick, 
> 
>     I do agree with you that the Worldcom fiasco is rotten timing in such a 
>skittish market - I'm sure the short sellers will be out with their knives 
>tonight in the US.
> 
>     Check out this Herb Greenburg commentary on the situation:
> 
>     http://www.thestreet.com/funds/herbgreenberg_up/10029041.html
> 
>     Ben Dutton
> 
> 
>       ----- Original Message ----- 
>       From: lippy 
>       To: sharechat@sharechat.co.nz 
>       Sent: Wednesday, June 26, 2002 3:52 PM
>       Subject: [sharechat] Quick competition- how far dow fall today?
> 
> 
>          Worldcom accounting problems could not of arrived at a worst time, 
>today was already being predicted as being very poor , now the market decline 
>could accelerate.
>         I will start with a bearish prediction that the DOW willbe down 350 
>points at close.




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