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Earnings manipulation can make a company look very profitable, while in fact they are bleeding money. This week’s guest, Hewitt Heiserman, is an author of the book It’s Earnings That Count and an expert in financial statement analysis. He devised a way of spotting in advance if something is about to go wrong with a company, to help you avoid the next Enron, but also if it is likely to sport above average returns in the near future, using his proprietary Earnings Power Chart.
During the discussion part of the episode, the panel members discuss how they learned to read financial statements, the importance of checklists for investors, the power of insider ownership, and much more!
Resources mentioned:
It’s Earnings That Count – Hewitt Heiserman
Cash Flow & Security Analysis – Kenneth S. Hackel
The Quest for Value – Bennett Stewart
American Association of Individual Investors (AAII)
Economic Value Added (EVA) article
It´s Earnings That Count blog post by Nick Kraakman
Ben Graham and the Growth Investor presentation (PowerPoint)
Warren Buffett’s Letters to Stockholders
The Outsiders – William Thorndike
Henry Singleton and Teledyne case study
Intrinsic Value Spreadsheet
Financial Shenanigans – Howard Schilit
The Checklist Manifesto – Atul Gawande
Beating the Street – Peter Lynch
Securities and Exchange Commission (SEC)
What Works on Wall Street – James O’Shaughnessy
The Intelligent Investor – Benjamin Graham
Simple Balance Sheet Analysis by Andrew Sather
Panelists In This Episode:
- Andrew Sather | eInvesting for Beginners
- Larry Ludwig | Investor Junkie
- Miranda Marquit | Planting Money Seeds
- Nick Kraakman | Value Spreadsheet
- Our guest: Kate Holmes | Belmore Financial
For a quick bio of each of our show participants, head on over to our panelists page.