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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Elroy Jetson who wrote (123333)5/16/2008 2:32:39 AM
From: MoominoidRead Replies (1) of 306849
 
This seemed apposite:

Ian Cumming:

"We struggle to create wealth. We don’t pay any attention to reported income results. There is a trend in accounting where you have to mark to market your investments or do a lot of complicated stuff that we don’t want to do, so we mark it to market. Things will be reported as more volatile as a result. Financial statements these days are almost meaningless. It is impossible to figure them out outside of those who practice."

gurufocus.com
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