Comments
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MNI'm only six minutes into this and I already love it. Brilliant brilliant brilliant. Great interviewee, love the way he thinks, his passion and the way he explains things. Going to look into these guys. Well done RV!
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HKAnother interview you will never hear from the MSM, the system is very flimsy at best. Audit firms and rating agencies that are charged with this responsibility fail almost everytime! We need a lot more moral capitalists!!! Thanks RVTV
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HKAnother interview you will never hear from the MSM, the system is very flimsy at best. Audit firms and rating agencies that are charged with this responsibility fail almost everytime! We need a lot more moral capitalists!!! Thanks RVTV
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PMSo lets start a movement to either force all companies to report al earnings according to FASB and not skirt it by simply noting exceptions. Actually why bother with audit reports which are meaningless and have been for the past 20 years! This is from a retired accountant and Certified Fraud Examiner. After that take a swipe at Executive compensation committees and eliminate the 'standard' performance bonus scam.
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ACExcellent discussion. But Let's face it. The authorities are in on this and it will be very hard to change this system of deception and creative accounting. For example, the ratings agencies got away with it in 2008, dodgy ratings of all those assets. Their whole business was fraudulent and they should've been put out of business. Is there perhaps a website out there listing just these anomalies (without the baggage of zero hedge)? Mr Medd's examples here could easily be depicted as screenshots from the annual reports.
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srBrilliant interview, loved how he explained what can be quite complex so simply.
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PDThis is great stuff. This guy is spot on, with one caveat: things are likely far worse than he describes. RV should definitely get him back to talk about more specific examples. Particularly in the pension, off-balance sheet and derivatives areas.
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THThe biggest accounting assumptions of them all are made by the central banks. Now think about that for a moment...
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HBExcellent interview. Bring him back with more time.
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KSSuper interview.
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AHSuper!
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twGreart - keep up the work.
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BLBravo. This man a a new hero for me.
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GPAwesome, enjoyed listening -- thanks for showing interview
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MAEntertaining , insightful, and spot on. Well worth watching.
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GMIm glad they re-released the interview. Very entertaining. Could have listened to him longer.
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wwthis "creative accounting" IS Fraud! There are 2 basic legal 'elements' necessary to establish a case of fraud: 1. Deception; 2. harm caused by that deception. BRAVO!!! to Robert Medd. Let's agitate - early & often - for his reform suggestions.
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PSWith the actual numbers being fiddled so much - imagine the nonsense in the 'adjusted non-GAAP' numbers so popular now when reporting 'EPS beats'
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DMI wish he would have talked about Tesla. They definitely use some creative accounting!
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SDOustanding! a modern Diogenes. The real point for me is that just as we get the politicians we deserve, we get the CEO's and auditors we deserve. If collectively as investors we stood us to this chicanery and sacked people who did it, via effective Board, it would cease. But our laziness and hopefulness stops us. We should all be more like Rob Medd
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MMvery likeable dude and interesting field.
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PBGreat piece that confirms what I always thought is a conflict of interest. Thank you!
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DTPerhaps it's time for Mr. Medd to turn his hand to real fiction. It would be a hoot. A great take on accounting for this non-accountant. Would like to see more.
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saGreat interview!!
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SCVery important for everyone esepecially deep fundamental research...love the name by the way...greatest war horse of all time
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BFa disciple of the late Abraham Brtilloff, who wrote books on the same subject. the work is essential
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HJI'm glad he's bemused. I'm sickened
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HJNot knowing who is who gives rise to a jaded view on the part of the investors
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ddBeing an accountant I had a chuckle about the pension liability and 3 years short deaths. We can be a sneaky bunch.
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GGHmmm...Mr. Med says that, when looking for this kind of unethical behaviour, he identifies companies with: 1) lots of debt 2) that are at their peak or declining 3) have a single powerful leader Does any of that sound familiar??? HOW ABOUT THE USA dummies!!!!! It's sort of hard to get too outraged by any of his revelations when the US government has been "creatively" lying to the public ever since the Iraq war and now continues to do so with the reported economic "expansion" of the last 8 years.
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CVgood stuff guys. As a former auditor of a big 4. I can say he was spot on in everything he said.
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GGAwesome interview but, let's face it, anyone who has being paying attention has known (for a very long time) that the entire system is rife with abuse. What I'd love to see is a recognition that this kind of "creativity" has also been pervasive in the governments reporting of the economic "expansion" since 2009.
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HKSpot on for Noble Group. Very insightful.
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SBCoolest forensic accountant I've ever encountered... could listen to this guy talk about anything. Reminds me not only of the Harry Markopolos interview, but also the one with Benoit Descourtieux. Both worth a look.
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TSAppreciated this interview. It reminds me to be more cognizant of financial engineering, I always watch when a CFO departs and a quarter later miracles "happen" but this points out an entire new level of creative accounting. Excellent job!
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JCI couldn't stop laughing at this tragic/comic presentation. If George Carlin had been a forensic accountant, this would be his presentation! Well done!
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SSThe fraudsters are running the world but people everywhere are pushing back. They can't hide forever, just like the sun, the moon and the truth. Excellent "real vision" discussion. More please!
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GCDelighted RV is putting sunshine into the accounting world with this and the Harry Markopolus interview. Makes one pause a bit when voting to approve the accounting firm.
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NGAmazing interview !! Creative accounting is an area where we all should dip our feet in because every public company is rushing up to meet the expectations !