<<<You evaded the question with a bunch of nonsense questions instead of an answer. As I figured, you don't have
the faintest clue.>>>
You seem to be the only person posting who could seriously benefit from a clue. You make a lot of wild statements without a shred of evidence to back them up. HD has a ton of off balance sheet debt. They use it to fund new store openings. You would evidently like to believe opening several hundred stores a year is done for free, or that they pay for it out of petty cash. Talk about clueless.
You would also apparently like to pass yourself off as some kind of expert on their house account credit exposure. Since there isn't any public disclosure on the topic, in the filings, or anyplace else, unless you are an insider, you're just making it up as you go along. If the average outstanding balance on the 10 million accounts is $1,000, the company has $10 billion in exposure to their unsecured credit portfolio. Maybe the average balance is only $200 and their exposure is $2 billion. Or maybe it's $3,000 and the exposure is $30 billion. The bottom line is since the company chooses not to disclose their credit exposure to shareholders, you don't have any idea in the world what you're buying when you place an order for HD.
<<<Either you are being sarcastic or you've never been involved in the preparation of 10-Q/10-K reports. Every word, number, dotted i and crossed t is scrutinized by accountants, lawyers and executive staff. How can you possibly compare the summary disclosure of quarterly earnings announcements to the depth of quarterly 10-Qs?>>>
That has to be the most foolish statement you've made yet. If the numbers haven't been scrutinized at the time of the press release, then something is seriously wrong. How many times have you seen companies issue a PR when the 10Q is filed to explain they didn't have their i's dotted in the first PR? Hog wash! The only reason companies file their reports weeks after the initial PR is so the information is not available to analysts at the time of conference calls, and so investors will have forgotten about it by the time its filed. It gives the company a chance to hype their results to the moon without giving investors a chance to make informed buying or selling decisions based on properly disclosed, material information. Home Depot's filings are a joke anyhow. The only obvious fact an investor should be able to pick up is the company goes to a lot of trouble to hide the true financial condition of the company from investors.
As far as the $5 billion in cash is concerned, being 38 days ahead of their inventory creditors doesn't impress me. They've got enough cash to pay off their short term obligations, and that's all they've got. A soft holiday season similar to K-Mart, and you can kiss the baby goodbye. |
