That financials are a very laggy indicator of reality is the lesson that doesn't actually seem to be properly taught. It's even worse in software. The stickines

That financials are a very laggy indicator of reality is the lesson that doesn't actually seem to be properly taught. It's even worse in software. The stickiness can make companies look great when they are actually a mess. The cost of acquiring companies can make companies look like money losers when they are actually doing well. Intel has been a mess for a decade at least, an obviously going to zero. But the numbers only started going badly a few years back.