By Professor Joel Litman
President, CEO, and Chief Investment Strategist of Valens Research
Thursday, 8th August 2019
Thursday, August 8 – 11:45 am to 1:15 pm
374 Commonwealth Avenue
“Generally Accepted Accounting Principles are not truth or reality.” – Marty Whitman, Third Avenue Management
Join us for an in-depth look at how Uniform Accounting is helping investment managers to outperform the S&P.
Joel Litman, our Chief Investment Strategist will be presenting on:
For the companies you invest in: The power of seeing the differences between Uniform and As-Reported accounting, performance, and valuations – as the World’s greatest investors do – applied to the financial statements of over 8,000 companies. Noted, the material difference in showing the real profitability and valuations versus what the major databases incorrectly show.
“Although (as-reported) accounting is the starting place, it’s only a crude approximation.” – Charlie Munger
How to use Uniform Accounting equity and credit analysis, fundamental research, analysis of management, and peers for idea generation to identify superior ideas.
“…analysis of reported earnings can mislead investors as to the real profitability of a business.” – Seth Klarman
Is the market collapse coming soon? Or still more than a year away (at least!) The macro insights that smart investors recognize through an aggregate Uniform Accounting overlay. It is a comprehensive understanding of the historic patterns in equity and economic cycles, driven by credit, profitability, growth, valuation, and other metrics that as-reported accounting, Wall Street, and the credit agencies completely miss.
Seats are limited. $20 fee goes towards lunch.