Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Yeah, I saw they were considering changing them at the end of 2019.
Anyways, I haven’t looked at the report, but I’m Highly skeptical because he works for a company that’s short selling the stock. I’m not saying he’s wrong (I wouldn’t be surprised if this dying/dead dinosaur company was committing fraud—the stock has basically collapsed 3 times in the last 15 years), I’m just saying that I’ve seen these kinds of articles even about my own blue chip company. These people will have short positions and our stock will go down from what they said. People get worried and ask questions. The company sends an internal email. I read their reports and it’s a joke the claims they’ll make sometimes. People can just spew any garbage.
Maybe this one isn’t like that. But I’m just saying.
I read the entire report and despite Mark benefiting from a downside movement in GE stock doesn’t change material facts. At the very least the accounting of the baker transaction is off.
I read the entire report and despite Mark benefiting from a downside movement in GE stock doesn’t change material facts. At the very least the accounting of the baker transaction is off.
Of course it doesn’t change material facts...if he’s right.
I’m just saying I’ve seen reports like this about my own company from short sellers with chart after chart and accusations of fraud and irregularities and it was all bull****. And when they're wrong people just forget about it and move on.
If he’s right, a lot of people will go down in flames. Otherwise, it will just be a report among a heap of similar reports.
Of course it doesn’t change material facts...if he’s right.
I’m just saying I’ve seen reports like this about my own company from short sellers with chart after chart and accusations of fraud and irregularities and it was all bull****. And when they're wrong people just forget about it and move on.
If he’s right, a lot of people will go down in flames. Otherwise, it will just be a report among a heap of similar reports.
He’s not a short seller though or maybe better put not just a short seller. He is a fraud expert that does this for a living. That doesn’t mean his right but it’s also not something I’d simply dismiss because he’s being compensated for downward movement. He submitted the findings through the government’s two whistleblower programs as well as lawn enforcement so it’s not a CNBC PowerPoint just for show
He’s not a short seller though or maybe better put not just a short seller. He is a fraud expert that does this for a living. That doesn’t mean his right but it’s also not something I’d simply dismiss because he’s being compensated for downward movement. He submitted the findings through the government’s two whistleblower programs as well as lawn enforcement so it’s not a CNBC PowerPoint just for show
There’s no way the “market” knows any truth either way. The assertion that it would is silly
I disagree. The stock market is in general a leading indicator of of the overall economy and individual company health. A companies stock will crash before the actual company does.
I was in GE at a little above $9 and had been holding it a while. Just sold at $8.70 to see how this thing plays out.
Given Larry Culp's pedigree and that he was an outsider, I tend to believe that most of what is in Markopolos's report it probably a difference in opinion of permissible accounting methods. I have to believe that Larry wouldn't risk his reputation on legacy issues of Jeff Immelt, assuming he was aware of them (which he should be by now).
I wasn't overly moved by his motivation to take on the investigation (GE moved their headquarters to Boston which apparently he views himself as the accounting sheriff of) nor his performance in the interview on CNBC.
That said, there's probably something in there and there's plenty of other stocks to invest in while this sorts itself out.
I disagree. The stock market is in general a leading indicator of of the overall economy and individual company health. A companies stock will crash before the actual company does.
You can disagree but that doesn’t change anything. There’s zero way the market knows if GE is cooking the books or not. The market being a leading indicator has nothing to do with this
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
