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  1. #231
    copake_ham's Avatar
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    Ed and bob01721,

    Other than now being WAY OT, I think you're both right and both wrong.

    Ed is correct that the "slick" annual report contains a lot of fluff and "puffery" and one would be wise to read the PR parts with a skeptical eye. Particularly the MD&A* part.

    bob01721 is correct that the 10k (and 10q's etc.) are formal filings to the SEC that provide as much as possible a true and accurate presentation of a Company's financial condition, including a much detailed discussion of it's contigent liabilities etc. And, yes it is very boring reading.

    Ed is wrong in that he neglects to point out that the Annual Report also includes independently-audited financial statements that, absent fraud and misrepresentation (e.g. Enron), accurately reflect the financial condition of the company.

    bob01721 is wrong in that he places full faith and credit in the 10k and does not recognize that there are indeed Enrons out there that will defraud in their formal filings just as they do in their PR ARs. That was the basis of the Federal criminal action - fraud on the SEC.

    Now, how about we send this thread into the dungeon with Wiggy?

    *MD&A: Management Discussion and Analysis (also there is the "forward looking statement").

  2. #232
    Samuel B's Avatar
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    Quote Originally Posted by wysiwyg
    I need my faith renewed.
    Has your faith been renewed yet?
    Film's not dead, it's just got a negative image.

  3. #233
    Photo Engineer's Avatar
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    Quote Originally Posted by Samuel B
    Has your faith been renewed yet?
    Much of this thread has been about Wiggy's lack of faith based on a half-assed guesstimate of the reports he is able to get his grubby little protuberances on and read. (quote from Sylvester McCoy).

    I think this thread should be closed.


    PE

  4. #234
    roteague's Avatar
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    Quote Originally Posted by Photo Engineer
    I think this thread should be closed.
    Yes, it is time for this to go away.
    Robert M. Teague
    www.visionlandscapes.com
    www.apug.org/forums/portfolios.php?u=2235

    "A man who works with his hands is a laborer; a man who works with his hands and his brain is a craftsman; a man who works with his hands and his brain and his heart is an artist" -- Louis Nizer

  5. #235
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    Murray and I do not want to have to come back to this thread at page 40. Please close it.

    Rich
    Richard A. Nelridge
    http://www.nelridge.com

  6. #236
    Sean's Avatar
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    agreed..



 

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