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Definitely agree that standardization of financial metrics is highly useful for comparing across companies. Strongly disagree that the SEC or any government ag
by ramanujan 15y ago
Definitely agree that standardization of financial metrics is highly useful for comparing across companies.
Strongly disagree that the SEC or any government agency can be relied upon for anything related to "trust" in this space. Did Sarbanes-Oxley prevent the financial crisis? The SEC is just about building Maginot Lines. Caveat emptor has and remains the operative guidance for investors.
Private ratings agencies have had a poor track record of late, but they are at least somewhat more reliable in that they aren't completely under the thumb of the US government.
- raganwald 15y agoSo long as we understand that I never suggested that prudent investing relies on the investor performing their own careful appraisal of the investment or relies on a regulatory agency--of any kind--screening investments.