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.
Sunday, April 12, 2009
Books A Million Slips One By
Books- A-Million (BAMM) made a mistake with their financial statement and sent out a press release to correct the problem. The press release was issued at 0401 ET on Friday April 10 which was a Statutory Holiday in a three day long weekend. Mistakes can happen but it took them 22 calender days to realize they had made the mistake and then sneak out a press release when no one is really looking. Why do investors not get a sense of comfort and trust on this one.