[Infowarrior] - OT: Stupid Things Finance People Say

[Richard Forno]

Stupid Things Finance People Say

By Morgan Housel 
November 14, 2013

My job requires reading a lot of financial news. It's one of my favorite parts. But it gives me a front-row seat to the downside of financial journalism: gibberish, nonsense, garbage, and drivel. And let me tell you, there's a lot of it.

Here are a few stupid things I hear a lot.

"They don't have any debt except for a mortgage and student loans."

OK. And I'm vegan except for bacon-wrapped steak.

"Earnings were positive before one-time charges."

This is Wall Street's equivalent of, "Other than that Mrs. Lincoln, how was the play?"

"Earnings missed estimates."

No. Earnings don't miss estimates; estimates miss earnings. No one ever says "the weather missed estimates." They blame the weatherman for getting it wrong. Finance is the only industry where people blame their poor forecasting skills on reality. 

< - more sad-but-true snark well-worth-reading at the link below - >

http://www.fool.com/investing/general/2013/11/14/stupid-things-finance-people-say.aspx

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Just because i'm near the punchbowl doesn't mean I'm also drinking from it.