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Strategies & Market Trends : Value Investing
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To: Bob Rudd who wrote (15311)8/26/2002 10:58:39 AM
From: Bob Rudd  Read Replies (1) of 78671
 
DXT: When I made original comments on this, I had not run across the 'going concern' warning. This pretty much means, 'Stick a fork in it, it's done.' Analysts and auditors are suffering lack of credibility for assymetric reads on companies: Their analysis tends to be positively biased by relationships and financial incentives. This doesn't necessarily mean they are stupid or incompetent, just paid to express a more positve view than is sometimes warranted. So...when an analyst says 'sell' or an auditor issues a 'going concern' warning, they are swimming AGAINST the tide of bias based on considerably more information than the average investor will have at hand. Both are rare calls and should be given considerably more weight than positive takes. That said, there are times when the price overdiscounts even the most negative opinion. I just don't think that's the case with DXT based on debt adjusted valuation measures.
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