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Old 07-19-2012, 11:53 AM   #15
Mereebirl

Join Date
Oct 2005
Posts
475
Senior Member
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I do firmly believe though, that unless a company blatantly lies in its report about how much it's earned, it's assets and liabilities etc, then you are fine. You just need to know what to look out for.
These sound like famous last words. A company doesn't need to "blatantly lie" about how much it's earned in order to create deliberate misconceptions about it's financial state. For example, it can get creditors to hold off on payment demands without informing shareholders, giving the impression that profits have been generated when in fact there will only be bigger losses when the creditors come knocking. These are things that you can only find out by hiring a small army of accountants.

This really isn't a matter of due diligence.

I'd also like to note that the article I linked to was written at a time when I was a very different person from the man I am today. Back then I was all about world domination and pursuing selfish goals. I like to think I've changed a bit since then
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