Prudent Man CFA

7 Ways Companies Fuddle Numbers ('Financial Shenanigans' Book Review)

That's typing errors!

7 Ways Companies Fuddle Numbers ('Financial Shenanigans' Book Review)

The typing areas are results of my fat, arthritic fingers.

7 Ways Companies Fuddle Numbers ('Financial Shenanigans' Book Review)

Those of us that have been in the investment business (50 years & CFA) have complained for decades the inadequacies and, virtual, fraud in financial statements. In my view, there are absolutely no rational reason for any "off balance sheet items". Furthermore, for the SEC, Exchanges, FASB the CPA regulator bodies can let this continue is criminal.

Most investors as well as professionals are unaward that there is very little independence in and independent audit. I had hoped that the Enron fraud would have awaken all of the regulatory bodies, and especially Congress, to this wide ranging problem. I am as much for Free Enterprise and a Libertarian as regards regulation as anyone, but when companies, their lawyers, accountants and managements pervert the free market system they do so at their own risk.

Being from the Old School where investment professionals invested trust, retirement, fiduciary funds, etc. I take a more serious view than those who "bet" on the market. I know independent analysis is hard work but when one holds himself out as an analyst and looks no further than technicals for guidance the investor has a problem.

I just hope that before I retire that the industry I loved reverts to one of trust and the regulatory authorities do their jobs regardless of the heat from politicians and Wall Street.

Basically, the market is rigged against the investor as long as the financial statements are dishones.

Bullish Investors Should Be Rooting for the NY Giants

Why do you print such nonsense? To fill space like CNBC does to fill time or do you really believe this stuff. It would be nice if the media would do some work and get a real investment story. Stuff like this should remind investors they should pay attention to facts rather than anyone's opinions.

Aside from the stupidity of this kind of stuff, the maket goes up more than seventy percent of the time (markets go down faster and more violently), a fact that is completely lost on these morons. Consequently, all statistical extrapolation (an investors killer) has to be adjusted accordingly.

A Masochistic Market Sells Goldman Sachs' Great Quarter

If you peddle garbage that you are shorting to your customers, telling them how great of an investment they are getting, the media and Street thinks you are a genius. They can't think above the nasty greed.

Goldman Sachs is the Drexel Burnham of the 21st Century.

The SEC might wake up after the pension plans, trusts, etc. complain to the politicians. Then the zero sum game will expose that the market was rigged. Also, Then we may find out how many politicians from both parties that Goldman has in their pocket.

So much for the fiduciary responsiblity of the brokers.

Barron's Debunks Cramer

Camer is the 21st Century's answer to the 20th Century's Dan Dorfman. He's a name-dropping bafoon who was whimpering about his millionaire bonus players at Goldman getting smacked for their stupidity. He and Kudlow are hypocrites "Free Market Capitalists" until they and their Wall Street buddies get their heads handed to them. "Please Big Government bail out these rich predators" They never worked a day in the Free Enterprise Economy so they are clueless when the shit hits the fan. A couple of years on the line in Iraq might wake them up to how the real world works.

Wall Street isn't Free Enterprise. Never was never will be. The guys and gals down the street owning the grocery stores and barber shops are entreprenurs not the manipulators on the Street. Like Enron, investment bankers think they are the smartest guys in the room That is why every few years these over rated elitist imploded on their own hubris.

The stock markets should be open one hour a day so people can exchange their investments. The crap shoots should then go to Vegas as all this trading has absolutely nothing to do with investing. If it was so important to respond to events they would be open 24/7. To paraphrase: "Its the greatest con never told". How unproductive, useless and, in effect, couterproductive as too many executives watch their stock rather than their businesses.

The Fed Panics and Cuts Rates

Fed should have acted today and not just before the opening on stock expiration date especially after admittedly talking to bankers and investment bankers. The action was o.k. short term but the timing was awful and brings out the conspiracy thinkers.

The smartest guys in the rooom, viz. Goldman Sachs, are not so smart but are certainly politically connected. America, where someone with the right contacts can make millions doing nothing and do stupid things without penalty.

Did I hear someone say they wanted the Fed, President, Politicians, Bureacrats, etc. to "Manage the Economy". If that were true most of the industries we have today would never be as the government would be financing the losers.

Cramer and Kudlow: Free market economy with government supporting Wall Street fat cats. Hypocrits!

The Fed Panics and Cuts Rates

Fed should have acted today and not just before the opening on stock expiration date especially after admittedly talking to bankers and investment bankers. The action was o.k. short term but the timing was awful and brings out the conspiracy thinkers.

The smartest guys in the rooom, viz. Goldman Sachs, are not so smart but are certainly politically connected. America, where someone with the right contacts can make millions doing nothing and do stupid things without penalty.

Did I hear someone say they wanted the Fed, President, Politicians, Bureacrats, etc. to "Manage the Economy". If that were true most of the industries we have today would never be as the government would be financing the losers.

Cramer and Kudlow: Free market economy with government supporting Wall Street fat cats. Hypocrits!

The Fed Panics and Cuts Rates

Fed should have acted today and not just before the opening on stock expiration date especially after admittedly talking to bankers and investment bankers. The action was o.k. short term but the timing was awful and brings out the conspiracy thinkers.

The smartest guys in the rooom, viz. Goldman Sachs, are not so smart but are certainly politically connected. America, where someone with the right contacts can make millions doing nothing and do stupid things without penalty.

Did I hear someone say they wanted the Fed, President, Politicians, Bureacrats, etc. to "Manage the Economy". If that were true most of the industries we have today would never be as the government would be financing the losers.

Cramer and Kudlow: Free market economy with government supporting Wall Street fat cats. Hypocrits!

The Fed Panics and Cuts Rates

Fed should have acted today and not just before the opening on stock expiration date especially after admittedly talking to bankers and investment bankers. The action was o.k. short term but the timing was awful and brings out the conspiracy thinkers.

The smartest guys in the rooom, viz. Goldman Sachs, are not so smart but are certainly politically connected. America, where someone with the right contacts can make millions doing nothing and do stupid things without penalty.

Did I hear someone say they wanted the Fed, President, Politicians, Bureacrats, etc. to "Manage the Economy". If that were true most of the industries we have today would never be as the government would be financing the losers.

Cramer and Kudlow: Free market economy with government supporting Wall Street fat cats. Hypocrits!

Killer Derivatives, Zombie CDOs and Basel Too?!

I find it interesting as to how little attention is being paid to the large sub-prime loans held by big insurance companies, viz., Prudential and Met. Also, H & R Blocks' problems seem to elude the pundits.

This is not like LTCM as it is more pervasive. People bought with leverage over-priced assets and if market psychology prevails they will become under-priced assets as those who want to puchase them no longer have the resources for which to do so.

Was the liquidity availability a scam and just debt? Is China next? Remember the Hong Kong markets before and after the communists took over. This what happens when you invest in markets that lack transparency.

Deleveraging means reducing buying power and affects everything for sale and the least marketable worse.

Why The Fed Won't Cut Today

If the Fed cut they would be rewarding the reckless and increasing the Moral Hazard by so doing.

Why The Fed Won't Cut Today

Ad to that the weak dollar which will get weaker with a cut. Also, it would aid inflation which the Fed is always fighting.

I agree with you as well as I see no reason to just bail out greed.

The unwinding of the leverage is actually good for the Fed's fight against inflation and in the long run good for the quality of economic growth.

Why The Fed Won't Cut Today

The hypocrisy of Wall Street. They complain about regulation but when their greed gets them in trouble they cry to the regulators to bail them out.

Cramer and Kudlow: "We believe in free market capitalism". Well whiners, shut up about the Fed. Free also means free to be wrong and an inherent obligation to suck- it -up and take your losses like you took your unearned fees for crating the mini-Enrons.