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URL:  http://boards.fool.com/thank-you-very-much-for-that-insight-into-17668200.aspx

Subject:  Re: Smoothing earnings and Apple's tax rate Date:  8/10/2002  4:09 PM
Author:  dbsf Number:  75327 of 202305

Thank you very much for that insight into corporate reporting.

It illustrates a belief I've had for a long time (at least since starting to invest directly in equities):That no matter the level of understanding the final numbers one can accurately base investment decisions on are an elusive, slippery slope giving no reasonably intellegent person a way to gain secure, consistent information.
Imagine an investment decision based on reporting that will be retroactively accurate to future quarters! It's simply too much to comprehend, even with your excellent post, and I suppose the best reaction is to maintain a basic belief in the underlying "fundamentals", whatever they are. But this is now feeling more and more like having ones head in the sand......
I'ts good to see Apple playing the "game" of reporting income and earnings if only to prove the CFO and others are skillfull enough to do so, but does this improve your belief that the hands on the helm are headed in the correct direction? Where do you see Apple in the next three years?
Thanks,
david/sf
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