Individual Competence vs. Organizational Efficiency LO28923

From: Terje A. Tonsberg (
Date: 07/29/02

Replying to LO28919 --

Hello Andrew and group,

Andrew said:

> >"gut feeling" and do not pay attention to the numbers at all, on the other you
> > get people who think they can make decisions from an accounting statement
> > or evaluation report alone -- much like the way the stockmarket works.
> do I get the impression you don't actually have contact with any stock
> exchanges Terje;-) I am constantly informed by the "dodgy dealers" in my
> locality who laugh in private about people like Chris, myself and for all
> I know you...

Andrew, at first when I saw this quote of myself I thought what on earth
did I mean? I went to the post and it became clearer. It is my fault, it
was very misleading. What I meant to say is that one cannot know how a
company is doing merely from an accounting report, but the concept of the
stockmarkets, with its GAAPs etc. seems to more or less assume that this
can be done. Which is nonsense. What I am getting at is that the
stockmarket allows people to buy into things they have little knowledge of
(because an annual report, or less is hardly enough,) which makes them
susceptible to manipulation and all sorts of surprises. I am not referring
to seasoned investment bankers and traders. They do know their companies,
their industries and how the market REALLY works, as you suggested. I do
have friends in the business.



"Terje A. Tonsberg" <>

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