Investing General Discussion
- Thread starter Furious
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Guest, it's time once again for the massively important and exciting FoH Asshat Tournament!
Go here and give us your nominations!Who's been the biggest Asshat in the last year? Give us your worst ones!
Inventory in Q2 is still going to be pretty bad and Q3/4 isn't setting up well either with the situation in China, it kind of depends on how much their internal analysts have admitted that to themselves though. Freight cost is also a massive headwind for them and isn't getting better.
Furry
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Sanrith Descartes
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He wont walk. He doesnt care about the money. My guess is he buys it and then maybe sues the board members afterwards for fraud or some such.
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Sanrith Descartes
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Real corporations do not have financial "mistakes" like this that impact their SEC filings and financial disclosures. The term for that is fraud.
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Sanrith Descartes
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I am pretty wise investors said that in this very thread about two years ago.
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The fraud part is probably that they knew about it for awhile now and didn't disclose it. At what level of the business they knew about it becomes the question, entirely possible some mid-manager knew his engineers fucked for 2 years now and only finally raised it up the chain now that they are months away from being found out anyway.
Sanrith Descartes
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I am in no way defending the Admin and the Fed when I say this... They dont have anything else they can say. There is literally zero they can do at this point. We all know finance works the way it does for a reason. Inflation - Interest Rates - Equities are all interconnected. Cant spend your way out of a slowing economy with inflation running around 10%. Cant raise rates to curb inflation without tanking equities. They (and us of course) are well and truly fucked. Powell needs to man the fuck up and do the right thing for the Country and jack rates to 10% overnight. Yes the market tanks, yes the real estate market crashes, but it solves the problem and we can actually begin the recovery. This soft landing bullshit is just fucking us harder than we already are for political reasons, but there isnt anything to fucking gain politically.
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Sanrith Descartes
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Lol, SOX took care of the whole "No one told me the numbers we put out were fake". They knew. And Jack and the CFO signed the financials. Jack has real legal liability under SOX.
Sarbanes Oxley Act
The Sarbanes-Oxley Act is a U.S. federal law that aimed to protect investors by making corporate disclosures more reliable and accurate.
corporatefinanceinstitute.com
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I work in corporate finance and I am completely aware that they are responsible, SOX makes them responsible though it doesn't make them omniscient. I meant it more as a point that I can't imagine Jack and the CFO or anyone at the company who knows the SEC requirements being stupid enough to do that knowingly, I know it does happen though.Lol, SOX took care of the whole "No one told me the numbers we put out were fake". They knew. And Jack and the CFO signed the financials. Jack has real legal liability under SOX.
Sarbanes Oxley Act
The Sarbanes-Oxley Act is a U.S. federal law that aimed to protect investors by making corporate disclosures more reliable and accurate.
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Sanrith Descartes
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You have way more faith in them than I do. Remember almost all these Tech wunderkind know almost zero about business. They wrote code and never went to business school.
Captain Suave
Caesar si viveret, ad remum dareris.
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I went to business school. I distinctly recall the zero sum grades, no rules competitive negotiation class but must have missed the session on "always do the right and/or legal thing even when you don't think you'll get caught". Plus the guy I caught cheating in the class I TA'd and for realz pulled the "Don't you know the size of the hedge fund I manage??" card.
The business school type-A crowd is far worse than the move fast/break things tech bros when it comes to ethics and compliance.
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