April 2, 2020
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We saw it a few years ago. Boy, in one weekend, it was like a string of corporate meltdowns. And when that happens, Wall Street gets a very bad case of the jitters. I mean, when you suddenly discover that a major company that we thought was doing well was actually in big trouble, it doesn't exactly inspire investor confidence. In some cases, some have some shall we say unusually "creative accounting." And it can, for a while, conceal how bad things are. Of course, the fundamentals of financial viability, they don't ever change. Your outgo and your income, your losses and your gains have to at least balance. That's why you look at your checkbook. And it's management's job to, of course, be sure that they do balance.