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Michael Lofing, CPA, is the founder of Earnings Expert which provides qualitative investment research focused on in-depth analysis of selected industry groups for institutional investors. The research incorporates fiduciary, business and financial risk of individual companies and the selected industries. Lofing was the Managing Director, Financial Analysis at Glass Lewis & Co. from 2003 to 2008 which provided accounting and financial research with a focus on corporate governance and risk management policy to institutional investors. He provided SEC, GAAP and financial reporting expertise, office management, idea production, and was heavily involved with client contact and sales. Lofing was with Koch Industries Inc., ...More ...More where he served as vice president of finance and business development for Koch Performance Road Inc., a wholly-owned subsidiary of Koch Industries. During his six years at Koch Industries, Lofing was responsible for consulting on technical accounting issues and implementation of new accounting standards. His responsibilities included financial reporting, financial disclosure and financial statement review and analysis. He was a senior manager in the Coopers & Lybrand audit and assurance group. During his tenure at Coopers & Lybrand, he was a FASB practice fellow and a senior manager in the National Audit and Assurance Directorate. He graduated from the University of Wyoming with a Bachelor of Science degree in accounting.
- Description: Independent financial planner/advisor.
- Interests: Stocks - long, Stocks - short, Tech stocks
Earnings Expert, LLC Earnings-Expert produces qualitative research with a focus on in-depth industry knowledge. We have developed peer comparisons for selected industry groups across a broad array of metrics both quantitative and qualitative. This analysis allows investors to rank the risk profile of companies within the peer ...More
group. Our approach is designed to arrive at a qualitative assessment of the “tone at the top” or said another way: is management trustworthy? The research specifically addresses: Earnings quality and aggressiveness of accounting – does the company’s selection of accounting policies result in an economically accurate representation in the financial statements? Do the company’s results of operations and financial position appear better than their competitors because of the choice of accounting policies? Where are important earnings quality related disclosures either missing, or deficient relative to peer companies? Business model deficiencies – where does the business model result in disproportionate risk relative to peers. Are risks clearly and adequately disclosed? Market and segment analysis – how does the company stack up against peers? Governance & management quality – is the composition of the board, relative to peers, sufficient to facilitate risk management and assure high quality financial reporting? What governance issues could affect the reliability of reported financial results? Related parties – is disclosure adequate such that an investor can assess if management is acting as an appropriate fiduciary. Internal control – based on the auditors testing, are controls sufficient such that investors should reasonably rely on the financial statements. Risk management – are risks either disproportionate to the business model, to those which competitors are taking, and are risks adequately disclosed.
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