If you were affected by a storm in the Northeast, the Feds extended your tax filing deadline by 2 days…That was a really nice gesture on their behalf. A credit for financial losses suffered by the storm or other natural dissasters would be even nicer, but we’ll take the 2 days.
From the monthly archives:
A colleague of mine slipped a great Financial Times article under my door today. It talked about how 10K’s are so over bogged down with information that everyday investors are not sure what to take from these huge reports nor do they have the time to sift through all the accounting jargon contained in the reports.Â It has a great quote about how to analyze a company. “Cash is fact and everything else is opinion”. Which is certainly true when analyzing a company that’s growing at the same rate as the market (in my opinion this is anything in the 10% per year or less range and you can take that 10% to be revenues or net income, whichever you like). I am a firm believer in that the cash flow statement will tell you loud and clear if you have a viable sustainable entity on your hand or just a fad. However, fads are the place to catch the big market moves and if you desire to roll the dice and earn an above average annual return, you have to be willing to take on companies that have not have such great cash flow. But back to the point of all this. I think you can get just as much good information on a company from an analysts reports and Google Finance as you can from reading a dull confusing annual report and I tend to find my trendiest investments at IBD.
Well, I must say thank you to WordPress for making this site possible at this time. It’s a very user friendly software I must say. On a seperate note, I saw that one quarter acre parcels of land 35 minutes outside of Knoxville were going for about $30k a peice today. The land was lakeside and on a golf course as well. If only the rest of our country wasn’t so overpriced at this time, everday normal folks could actually afford a nice place to live without over extending themselves.
Today is my first post. I had lunch last week with our auditors from Deloitte and Touche. When asked if they would go into a career in public accounting today, were they each 10 or 20 year younger, they both made it entirely clear that Sarbanes Oxley has made the profession so miserable, that they wouldn’t even consider doing it again. That’s pretty sad to say, and I certainly hope that one can find a career that they enjoy and will continue to enjoy over time. I think it’s safe to say that public accounting is not an enjoyable career for most.