[quote=scaredycat]I laugh when anyone thinks they can read a financial statement and find value where the rest of the world missed it. no one is smarter than the market. no one.

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What a delightful piece of sophistry, scaredy. I’m not sure where I opined that I can read a financial statement and find value that no one else can, but you apparently divined that from my statement.

Nope. Not what I said at all. I simply said that the ability to read a financial statement using certain tools or skills has allowed me to invest for value over quite a few years.

Most investors, however, cannot read a financial statement. A lot of CEOs cannot read one, either (I’ve worked with more than my fair share of them). I would offer that the President probably has issues with reading a financial, he certainly has issues with following fair guidelines in cramming the Chrysler BK down everyone’s throats.

I recall all of the “geniuses” out there during the dot.bomb and the opening stages of the housing boom. Making money in a boom simply requires the ability to fog a mirror; consistent returns over the long haul requires diligence, fortitude and more than a little common sense. Most of which are in perilously short supply as of late.