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Earnings Quality: Spotting Earnings Manipulation & Short Selling Bad Companies!
- ナレーター: Andrew Li
- 再生時間: 1 時間 3 分
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あらすじ・解説
Are you worried how "clean" a company's earnings really are? If they really are earning the money they say they are...
Are you wondering if they are somehow "gaming" the numbers with financial shenanigans? Or maybe you're actively looking to short these bad companies.
These days companies seem to think they can pull the wool over investors! They think clever accounting games and bogus excuses will mislead investors.
The truth is, companies can play a lot of financial accounting games or financial shenanigans to hide how bad the results really are.
But if armed with the right tools and analytical framework, you can stop losing money in these bad companies. I'll teach you how to spot the most popular accounting games and earnings manipulation strategies. You will learn how to spot deteriorating working capital (inventory, receivables, deferred revenue) trends that are highly predictive of stock price underperformance.
These are secrets of the trade I learned while working as a forensic accountant.
With this book you will learn:
- How to analyze working capital: Working capital deterioration is a huge indicator of stock price under-performance. I'll teach you how to analyze inventory, accounts receivable, and deferred revenue trends to spot these opportunities ahead of time with high accuracy.
- How to analyze insider selling: Most investors don't pay enough attention to what executives are doing with their own shares. Are executives bailing out of the stock by selling all their shares? I'll teach you how to analyze these trends to avoid the incoming stock price collapse.
- Aggressive non-GAAP reporting games: Non-GAAP reporting has gotten out of control over the past few years. Many companies use this loophole to report whatever they want to investors without any consequences. I'll teach you how to read in between the lines and evaluate how the business is actually performing.
- How companies use cookie jar accounts to smooth earnings: Companies can use cookie jar accounts to manipulate their earnings. I'll teach you how to spot this in just a few simple minutes.
- Off balance sheet accounts: Worried if a company is using off balance sheet accounts to hide something? I'll teach you how to find out if they are doing this.
- Mark to Market accounting: One of the reasons Enron was able to get away with fraud for so long was due to mark to market accounting. I'll teach you how to spot this right away.
We'll even go through numerous case studies together so you can see how to apply these skills with your investment portfolio.
Don't get suckered into bad investments anymore!