What's Behind the Numbers?: a Guide to Exposing Financial Chicanery and Avoiding Huge Losses in Your Portfolio. Cet article n’est pas disponible.What's Behind the Numbers?: a Guide to Exposing Financial Chicanery and Avoiding Huge Losses in Your Portfolio

Learn how to detect corporate sleight of hand―and gain the upper hand with smart investing
Companies are under more pressure than ever to “beat by a penny,” but you don’t need to be a forensic accountant to uncover where the spin ends and the truth begins. With the help of a powerhouse team of authors, you can avoid losing a chunk of your portfolio when the next overhyped growth stock fails by knowing What’s Behind the Numbers?
Investing experts John Del Vecchio and Tom Jacobs mix a potent combination of earnings quality ysis, long-side investing, and short-side portfolio risk management to help you create a long-short portfolio with less volatility and greater returns, while avoiding landmine stocks that will blow a hole in your financial security.
First, the authors explain the practical side of financial ysis. They demystify widely held assumptions about stock performance, expected returns, earnings quality, and short sellers. Then they comb the financial statements to find the places where companies hide poor earnings quality. Finally, they provide the value and special situations investing to pair with the short-side thinking and offer a tactical manual for applying what you’ve learned in the technical, day-to-day world of portfolio management.
Armed with this wealth-saving guide, you can confidently trade based on clear data―not the aggressive accounting tactics companies use to make their numbers look better than they are.

John Del Vecchio is the cofounder and co-manager of The Active Bear ETF, a fund dedicated to shorting individual stocks with fundamental red flags. Previously, he managed a hedge fund for Ranger Alternative Management, L.P. In addition, he worked for well-known short seller David Tice and famed forensic accountant Dr. Howard Schilit. Del Vecchio coadvises the Motley Fool Alpha long-short newsletter.

Tom Jacobs, is an investment advisor and portfolio manager with Echelon Investment Management in Dallas. He applies this book's earnings quality tests to value investing for clients.