Roger's 1998 Short Picks Message Board

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Strategies & Market Trends : Roger's 1998 Short Picks

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To: Pancho Villa who wrote (3183)	2/18/1998 8:44:00 PM
From: NYBellBoy	Read Replies (1) of 18691

Pancho - Your analysis was very good. BFIThas very creative accountants, they know how to conform to GAAP and get the CPA Firm to sign on the dotted line. However, all these accounting gimmicks are just time bombs. Your posting of EVA (Economic Value Added), a Registered Trade Mark of Stern Stewart & Co. was the first I've seen on SI. If I see Stern or Stewart in one more nerdie video I will become ill. EVA is a fancy term for Holt Analysis of 8 years ago fame and Residual Income from 22 years ago. When I teach someone to read an Annual Report, I always tell them to start with the notes to the financial statements. After note #1, which is standard the fun begins. (The notes tell the story.) Then tick and tie each note to the Balance Sheet & Income Statement and Statement of Retained Earnings. Then you are ready for the Cash Flow Statement. For non-accountants, until the Statement of Cash Flows balances, either manually or system generated, the financials will not be released. In plain english, BFIT is as tired and flabby as I am. :) BellBoy

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