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Category Archives: Earnings junk buckets

Short? Know this…

If you plan to profit from the collapse in risk assets this year (as I am), you better know this: Earnings matter slightly more than not at all. Plus they’re bullsh*t.  Companies will put off posting bad stuff until it must be posted. Note: Banks can apparently  mark asset prices to models once again –therein stalling the inconvenient necessity of having losses from the […] Read the rest of this entry »

Junk Buckets: The work of a ‘Talented CFO’

Earnings quality is increasingly poor. There’s a gap opening between the earnings from operations figure (earnings before bad stuff = what the financial media have been duped by CFOs into following) vs. the as-reported figure (real world / all-in earnings reported to the IRS). We can thank talented CFOs for this.  They’re able to burry or otherwise delay having to recognize bad stuff for […] Read the rest of this entry »