RE: financial statements from hellThanks for your clarification on the interest rate write-downs, Mr Bonds.
However its confusing, when you are aware that they are not losing money on their operations,
but have to write off losses because of the financial reporting.
Its scary also when you see Accountants are claiming they are keeping away from
Manulife because their account reportings are difficult to understand.
Its scary also when MFC sets tables on what losses to expect if the markets drop and
you would think this is what is required by CGAAP, then MFC changed this, claiming their
sensitivity to the markets were deepened.
It tells me, MFC can dictate the magnitude of their sensitivity, and its not GAAP requirement,
so its no wonder the market and all the Analysts got it wrong.
There are lots of Investments companies out there reporting under GAAP, yet
they are not taking it on the chin like MFC.
In the past, Markets went up and went down, yet this stock was never so beaten up.
They are still making earnings, so what has happened since?
Having said that I also believe this stock has been over- killed.