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Chapter 14. Media Munchkins and Masters:... > Red Flag 1: If a Top Publication Exp...

Red Flag 1: If a Top Publication Exposes Dubious Accounting or Corporate Behavior

If a reputable publication such as The Wall Street Journal or Fortune starts questioning the accounts of a company, investors should sit up and listen. It was the Journal that finally started piecing the Enron puzzle together in October 2001. About seven months earlier, Fortune’s Bethany McLean wrote that the energy trader’s impenetrable accounting combined with high expectations for its stock increased chances of a nasty surprise. She wrote that even a straightforward question such as “How exactly does Enron make its money?” couldn’t be easily answered.


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