Panama Papers…Confirming What We Already Knew
If you haven’t heard, Panamanian law firm Mossack Fonseca, suffered a data breach of more than 11 million documents dating back four decades. The firm is well known for establishing secret shell companies for offshore accounts used by world leaders and politicians. So far 140 or so names have been referenced; we are not just […]
Pro Forma & Reported Earnings Spread
The Wall Street Journal recently published an article suggesting earnings are far worse than reported based on a widening gap between Pro Forma and Reported (GAAP) earnings. Pro Forma earnings exclude certain items like restructuring charges and stock based compensation and shows U.S. companies earning 0.4% more in 2015 then 2014 – the weakest growth […]
On Alert, Not Alarm
Apparently central banks and politicians have not done enough to help the global economy recover according to, Christine Lagarde, IMF Managing Director, in a speech at Frankfurt’s Goethe University where she called for stronger action by the world’s economies, suggesting downside risks were increasing. “Let me be clear: we are on alert, not alarm. There […]
