“Aviation is a hard business where only the best survives, and I mean the best managed” Christopher Brown, former GPA employee If you haven’t already noticed, I enjoy reading about corporate failures. This is not because I revel in seeing other people/companies fail. I am actually an optimist. Rather, it is because reading about failures […]
Peter Cundill ran the Canadian Cundill value fund from 1974 – 2010 generating annualised returns of 13%. His investment style was firmly in the Graham deep value camp but through a global lens. He invested in European and Japanese stocks before it was popular to do so as a foreigner. His investment style was especially […]
This is a good, practical book on accounting written by Terry Smith. It focuses on the different techniques used by UK companies to exaggerate their financial position during the late 1980’s. Accounting is the language of business and while the accounting rules have changed since the 1980s, human nature has not. Company directors can still […]
Contrary to popular opinion, a company’s statement of cash flows is not sacred and is susceptible to manipulation. Under accrual-based accounting, revenue is recorded when it is earned, not when cash is received. Expenses are also charged once benefits are received, not when actual payment occurs. The cash flow statement is split into three parts […]
In Stephen Kings book – On Writing, he mentioned that the writer has a variety of tools in his/her toolbox. The fundamental tools are vocabulary, grammar and the elements of style. To be a good writer, you must have these tools easily within reach in your toolbox. They must also be in good shape, ready […]
