Monthly Archives: September 2015

Adjusting EPS numbers for foreign borrowing

As analysts, we’re supposed to dig deep in a company’s accounting. For example, we might make adjustments to income statements so that they better reflect economic reality: Adding back D&A and deducting maintenance capex Adding back non-cash impairment charges Capitalising … Continue reading

Posted in Uncategorized | 1 Comment

Some random thoughts on shorting

Good shorts have three main characteristics: We have a high conviction of where the price will end up Low volatility in the stock price from today until that point Large negative price movement in a short period of time To … Continue reading

Posted in Uncategorized | Leave a comment