“The practice is even starting to reek of death to market bulls.”
Even the SEC woke up. But what will the media do?
But even the well-oiled machine couldn’t hide the decline.
Financial Engineering Backfires.
“What do you think investors on Wall Street most underappreciate about Valeant?” – Morgan Stanley analyst to CFO on eve of implosion.
With actual P/E Ratios Blowing Out Like this.
A good swig of financial engineering to make the results go down better.
Magic trick turns into toxic mix.
In the US alone, another $15 trillion of bottled air is waiting to be released.
Balance sheet deterioration “increasingly alarming”: Goldman