It's something of a long story but my accounting is very rudimentary I am keen to improve.
I think though the really important thing to understand about any business is its economics, of which the financial reports are a "symptom" if you like.
That's where most financial anaysts fall flat.
The upper echelon of short sellers look for companies that are apparently performing well in a challenged industry - then find a crooked CEO and a dirty balance sheet. A fraud a fad and a failure best of all.
I know Michael is not a crook from prior boardroom scuffles between us; he deserves some respect.
It's something of a long story but my accounting is very...
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