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Strategies & Market Trends : Stock Attack II - A Complete Analysis
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To: Nancy who wrote (27266)1/8/2002 10:27:46 PM
From: Berney  Read Replies (3) of 52237
 
Cannot argue with that point.

Picking on AOL as just finished a project taking a couple of hundred hours looking at the earnings, PE's and return on equity ratios at a couple of major sites. It turns out that they are wrong over 30% of the time, and this is with the widely followed Big Boyz. To show the nature of the problem, SI reflects the TTM earnings of AOL to be 76 cents; whereas, in reality they are a negative 69 cents. You can imagine what this does to SI's stated PE of 26. I'm not particularly picking on SI as it was not even one of the sites that I reviewed.

The problem multiplies the longer one goes back in history. It's enough to make one give up on FA. <gg>

It just aggravates me that the regulatory gods continue to allow AOL and others to use this EBITDA and other pro forma methods of accounting with the public that would never be allowed in the financial information that they present to the SEC. It is clear that the wolves are in charge of security for the hen house.

Berney
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