BWAC... easy now, the analyst may be very negative in his forward assumptions, not neccessarily stupid :-) It's our money to worry about, and whether we should still buy and hold, steadfast in our belief in this company.
However, I do think his $5 target is ridiculous.... start ups with a fraction of GX's assets are selling for more. Maybe he knows Winnick will NEVER hand his firm investment banking business, so all bombs away, hoping the wind blows in the right direction and he hits home run.
Another question for you:
If GAAP is so definitive, and auditors are so steadfast, how is it each time a new CEO comes on board, he/she ships truckloads of inventory, goodwill, and other balance sheet items to the junk yard for write-off, the same "junk" that had propped earnings in prior years, reviewed and signed by auditors? |
