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Chapter 6. Growing Mushrooms: The Art of... > Red Flag 4: If the Press Release Omi...

Red Flag 4: If the Press Release Omits a Cash-Flow Statement or Balance Sheet

Too many companies delay releasing all the key information until filing with the SEC weeks later. Without the balance sheet and cash-flow information, it is virtually impossible for you to detect any possible accounting malpractice, to get a picture of the risk of bankruptcy, or indeed to form any idea of how healthy or sick the business is. Enron’s refusal to provide such information led to a clash between then CEO Jeff Skilling and a short seller on a conference call in 2001, as related in Chapter 3.


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