Posts Tagged ‘howard sirota’

What is Accounting?

What is Accounting?

Courtesy of Sam Antar at White Collar Fraud 

The best definition of accounting I’ve ever heard comes from securities attorney Howard Sirota appearing on Russia Today’s segment, "US Marks two years since Lehman Brothers collapse."

The difference between arithmetic and accounting is that in accounting the result can be any number you want it to be.

See the video below:

Back in the day, my former nemesis Howard Sirota was lead attorney in the successful class action litigation against Crazy Eddie. Today, Sirota represents whistleblowers, such as me, who are frequent targets of retaliation by unscrupulous public companies.

Written by Sam E. Antar

Disclosure:

I am a convicted felon and a former CPA. As the criminal CFO of Crazy Eddie, I helped my cousin Eddie Antar and other members of our family mastermind one of the largest securities frauds uncovered during the 1980′s. I committed my crimes in cold-blood for fun and profit, and simply because I could.

If it weren’t for the efforts of the FBI, SEC, Postal Inspector’s Office, US Attorney’s Office, and class action plaintiff’s lawyers who investigated, prosecuted, and sued me, I would still be the criminal CFO of Crazy Eddie today.

There is a saying, "It takes one to know one." Today, I work very closely with the FBI, IRS, SEC, Justice Department, and other federal and state law enforcement agencies in training them to identify and catch white-collar criminals.

I do not seek or want forgiveness for my vicious crimes from my victims. I plan on frying in hell with other white-collar criminals for a very long time.

Recently, I exposed GAAP violations by Overstock.com (NASDAQ: OSTK) which caused the company to restate its financial reports for the third time in three years. The SEC is now investigating Overstock.com and its CEO Patrick Byrne for securities law violations (Details herehere, and here).

In addition, the SEC is now investigating possible GAAP violations by Bidz.com (NASDAQ: BIDZ) after I alerted them about the company’s inventory accounting practices.

I do not own any securities in Overstock.com or Bidz.com, long or short. My investigation of these companies is a freebie for securities regulators to get me into heaven, though I doubt I will ever get there.


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ValueWalk

Berkshire Hathaway's Second-Quarter Earnings

By Jacob Wolinsky. Originally published at ValueWalk.

Whitney Tilson’s email to investors discussing Berkshire Hathaway’s second-quarter earnings; it feels like deja vu all over again; it may be time for bank stocks to trade higher; the lowest-ever u.s. junk bond yield; your worst 1%.

Q2 2020 hedge fund letters, conferences and more

Berkshire Hathaway's Second-Quarter Earnings

1) My longtime friend and former partner, Glenn Tongue, is the ax on Berkshire Hathaway (BRK-B).

So, as I do every quarter, I asked if he'd share his thoughts on Berkshire Hathaway's second-quarter earnings report (here are links to the ...



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Zero Hedge

El Erian: Reading The Dollar Doldrums

Courtesy of ZeroHedge View original post here.

Authored by Mohamed El-Erian via Project Syndicate,

A sharp decline in the relative value of the dollar this year has been met with cheers from those hoping for a short-term boost to the US economy, and with hand-wringing by those worried about the currency's global standing. But while both views reflect underlying truths, neither tells the whole story.

...



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Phil's Favorites

New Study Finds Potential Reason Why COVID-19 Occurs Less In Children

By Paula Liu via The Epoch Times, via ZeroHedge

The reason COVID-19 occurs less frequently in children could be due to the lack of a certain enzyme, researchers have found.

This new study detailed in the Journal of the American Medical Association ...



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Biotech/COVID-19

New Study Finds Potential Reason Why COVID-19 Occurs Less In Children

By Paula Liu via The Epoch Times, via ZeroHedge

The reason COVID-19 occurs less frequently in children could be due to the lack of a certain enzyme, researchers have found.

This new study detailed in the Journal of the American Medical Association ...



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The Technical Traders

Adaptive Fibonacci Price Modeling System Suggests Market Peak May Be Near

Courtesy of Technical Traders

Our Adaptive Fibonacci Price Modeling system is suggesting a moderate price peak may be already setting up in the NASDAQ while the Dow Jones, S&P500, and Transportation Index continue to rally beyond the projected Fibonacci Price Expansion Levels.  This indicates that capital may be shifting away from the already lofty Technology sector and into Basic Materials, Financials, Energy, Consumer Staples, Utilities, as well as other sectors.

This type of a structural market shift indicates a move away from speculation and towards Blue Chip returns. It suggests traders and investors are expecting the US consumer to come back strong (or at least hold up the market at...



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Kimble Charting Solutions

Doc Copper Bear Market Resistance Kiss In Play!

Courtesy of Chris Kimble

Is ole Doc Copper about to ends its 9-year bear market? I suspect we will find out the answer to the question very soon!

Doc Copper has created a series of higher lows inside the falling channel (1) since it peaked back in 2011.

The rally from the lows in March of this year, has Doc Copper testing the top of its falling channel as well as a support/resistance price zone at (2).

With Doc Copper still in a bear market (lower highs for 9-years), this price test comes into play as important resistance at (2).

If Doc Copper breaks out at (2), it would send...



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Chart School

Silver Big Channel

Courtesy of Read the Ticker

Big channels are the sand pit of price action. Lets review some big trends of these past months.


GLD
- Moving higher to upper solid red line channel


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XAU
- Ready to pause, or simply explode.



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SILVER
- Ready to pause, or simply explode.


Click for popup. Clear your browser cache if image i...



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Digital Currencies

Raoul Pal: "It May Not Be Worth Owning Any Asset Other Than Bitcoin"

Courtesy of ZeroHedge View original post here.

Authored by Turner Wright via CoinTelegraph.com,

Raoul Pal, CEO and founder of Real Vision, says Bitcoin may soon become his only asset for long-term investments.

image courtesy of CoinTelegraph ...



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Lee's Free Thinking

Texas, Florida, Arizona, Georgia - The Branch COVIDIANS Are Still Burning Down the House

 

Texas, Florida, Arizona, Georgia – The Branch COVIDIANS Are Still Burning Down the House

Courtesy of Lee Adler, WallStreetExaminer 

The numbers of new cases in some of the hardest hit COVID19 states have started to plateau, or even decline, over the past few days. A few pundits have noted it and concluded that it was a hopeful sign. 

Is it real or is something else going on? Like a restriction in the numbers of tests, or simply the inability to test enough, or are some people simply giving up on getting tested? Because as we all know from our dear leader, the less testing, the less...



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Members' Corner

Coronavirus, 'Plandemic' and the seven traits of conspiratorial thinking

 

Coronavirus, 'Plandemic' and the seven traits of conspiratorial thinking

No matter the details of the plot, conspiracy theories follow common patterns of thought. Ranta Images/iStock/Getty Images Plus

Courtesy of John Cook, George Mason University; Sander van der Linden, University of Cambridge; Stephan Lewandowsky...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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Promotions

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Feb. 26, 1pm EST

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Phil will discuss positions, COVID-19, market volatility -- the selloff -- and more! 

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Mike will show off the TradeExchange's new platform which you can try for free.  

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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

...

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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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