Great way to put it. When there are congressional hearings (hopefully proactively), they will all say everyone was doing it and the commissioners and auditors signed off on it.
Full credit to Tom Grober who has spent 42 years in annual reports and has been my best friend the past week. I would have never known.
Thank you for your work Nick. I enjoy reading your updates. These forces are like steroids in sports. Once players see that usage is not penalized, they all realize they have to juice or they are cut. These market forces virtually guarantee that your samples reflect the entire industry’s practices.
Apr 4
at
4:57 PM
Relevant people
Log in or sign up
Join the most interesting and insightful discussions.