RE:RE:RE:RE:RE:RE:You Can't Pay Your Bills with Accounts Receivable
Melida wrote: Well, it sure comes across as not trusting the CFO. Why wait for audited statements when you can get the information now? It's a very reasonable assumption that you are waiting for different numbers once audited. That to me reasonably suggests you think something is wrong with the CFO's numbers. Any fair person would take the opportunity to have the CFO advise as soon as possible. You're having fun with this stuff at the expense of the company. If this comes across as angry etc. so be it.
Melida,
I appreciate your insights, and I wouldn’t expect you to be very familiar with my process, and just because that doesn’t involve talking to management doesn’t mean that I don’t trust management.
One of the greatest investors in the world, Warren Buffett, wrote an article which was very impactful for me,
"The Superinvestors of Graham-and-Doddsville," in that he highlighted the success of investors who relied on their own assessments rather than management's perspectives.
Walter Schloss, Who has an incredible record, but many don't know about, is highlighted in that article as doing exactly that and only relying on the published information.
I don’t need to talk to someone about a quarter on quarter results, and I do rely on the audited financial results, for all companies.
My process, has worked extremely well for me, As I became financially, independent doing this, and I’m happy to work independently.
Still, it’s fun to chat with other investors. here, I’m learning more about the behavioural aspects of investing, but we’ve had a few good discussions.
Anyway, I’ll sign off for tonight, but I do want to indicate that your comments about how I think about management are incorrect.
I also just saw your post come up where you indicated that me and another poster think we know more about accounting than others. This is another assumption you're making, where I have never said this. In any event, I'll think about your comments, but perhaps you should think about mine as well. Not the profit margin one forget about that, but just the assumptions that you are making, on limited information which I know to be categorically false.
Have a good night, and I look forward to rememberence day-a huge sacrifice by so many so that we can all live this incredible life we have.