Accentuating the caveat emptor perspective with critical commentary on financial disclosure. I adopt a skeptical persona and look for chinks in the teflon coating of financial disclosure. My job is to identify financial warts. Perhaps a Black Swan.
Disclosure: I do not hold positions in stocks mentioned for three trading days before or after blog post.
Wednesday, May 17, 2006
First Bancorp Long Hauls Interest Rate Swaps
First Bancorp (NYSE:FBP)announces that they will be accounting for interest rate swaps using the long haul system. They are in the process of restating their financials. Comments in the press release are preparing investors for ugly numbers.