Forum Archive Index - June 2002

[ichi@ihug.co.nz]

Ben Dutton wrote:
> 
> 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.  

I have to disagree.  There are serious concerns about
book-cooking at many companies (including market-darling
Microsoft).  The scary thing about Enron and Worldcom is
that until recently they appeared to be solid, reputable
companies.  It's not so bad when some fly-by-night dot-coms
bite the dust, but when blue-chips go belly up, it's time
to get out the worry-beads.

Hey, that reminds me of a joke.  Fifteen years ago, when I
was a green investor, I gave my sharebroker $20,000 and told
him I wanted to invest only in solid, blue-chip companies.  
Nothing risky.  So he put it all in Chase.  ROTFL.


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