Episode description
Episode description
New Constructs' CEO David Trainer on how public companies are using information buried in footnotes to manipulate earnings.
Articles on New Constructs:
Institutional Investor Beware Footnote Mischief: https://www.institutionalinvestor.com/article/b1j6v1zppkn7kf/Beware-Footnote-Mischief Integrity
Research: Novel Database is Better at Measuring and Predicting Core Earnings and Stock Prices http://www.integrity-research.com/novel-database-better-measuring-predicting-core-earnings-stock-prices/
MarketWatch: Earnings Are More Distorted Than Investors Realize https://www.marketwatch.com/story/companies-core-earnings-are-more-crazily-distorted-than-investors-realize-and-that-puts-stocks-at-risk-2019-11-23
Big Tech Leads Decline in Core Earnings https://www.newconstructs.com/big-tech-leads-decline-in-core-earnings/
Earnings Distortion Analysis Reveals Opportunity in Defensive Sectors https://www.newconstructs.com/earnings-distortion-analysis-reveals-opportunity-in-defensive-sectors/
NewConstructs Twitter: https://twitter.com/NewConstructs
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Tobias Carlisle is the founder of The Acquirer’s Multiple®, and Acquirers Funds®.
He is best known as the author of the #1 new release in Amazon’s Business and Finance The Acquirer’s Multiple: How the Billionaire Contrarians of Deep Value Beat the Market, the Amazon best-sellers Deep Value: Why Activists Investors and Other Contrarians Battle for Control of Losing Corporations (2014) (https://amzn.to/2VwvAGF), Quantitative Value: A Practitioner’s Guide to Automating Intelligent Investment and Eliminating Behavioral Errors (2012) (https://amzn.to/2SDDxrN), and Concentrated Investing: Strategies of the World’s Greatest Concentrated Value Investors (2016) (https://amzn.to/2SEEjVn). He has extensive experience in investment management, business valuation, public company corporate governance, and corporate law.
Prior to founding the forerunner to Acquirers Funds in 2010, Tobias was an analyst at an activist hedge fund, general counsel of a company listed on the Australian Stock Exchange, and a corporate advisory lawyer.