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, November 04, 2009
GMAC How Much Longer?
GMAC Financial Services issued their earnings release and had an interesting objective buried at the bottom of all the words. They want to transition to and meet all bank holding requirements. Sounds good. But in the disclosure business you need to report where you are and how you are going to get to your objectives. Nice objective but the financial world cannot determine from this earnings release where you stand in relation to your own stated objectives.