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Yea, that was my take too. So much hindsight bais. - If I read Enron's financials instead of the news, I'd have gotten rich. - If I ignored Hertz's financials
by kleinsch 5y ago
Yea, that was my take too. So much hindsight bais.
- If I read Enron's financials instead of the news, I'd have gotten rich.
- If I ignored Hertz's financials AND ignored the news, I'd have gotten rich.
Author focuses on cases where the media hype ended up being wrong, but what about all the cases where the media was right?
- chalst 5y agoWith Enron, it's not even that the financials were obviously bad. It takes skill to see danger signs in audited accounts. Recall the fraud finished off their accounting firm, then one of the Big Five.