Category: Finance

“Adjusted earnings” getting excessive

When companies discuss their earnings, it is normal for management teams to exclude one-time items. Sometimes these adjustments are reasonable, for example excluding a one-time legal charge (or windfall). Such items do not reflect the underlying operations of the company…

Forecasting in uncertain times

There’s an editorial in the NY Times published by David Stockman, a former budget director to Ronald Reagan.  He writes a scathing diatribe condemning the irresponsible practices of legislators and central bankers.  He anticipates a bad economic outcome that will…