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Published on Dec 6, 2012
About the book: Learn to detect corporate accounting sleight of hand: the aggressive accounting tactics companies use to make their numbers look better than they are, from "channel-stuffing" to inventory tricks. This knowledge lets you avoid the risk of investing your savings in companies that are playing with -- rather than by -- the numbers. The book also presents an integrated long-short investing strategy to take direct advantage of such shenanigans, but, whether you go all the way to a long-short portfolio, or just focus on avoiding landmine stocks that will blow a hole in your financial security, the book will help improve your investment approach.
About the authors: John Del Vecchio is the cofounder and co-manager of The Active Bear ETF, a fund dedicated to shorting individual stocks with fundamental red flags. Previously, he managed a hedge fund for Ranger Alternative Management, L.P. In addition, he worked for well-known short seller David Tice and famed forensic accountant Dr. Howard Schilit. Del Vecchio co-advises the Motley Fool Alpha long-short newsletter.
Tom Jacobs, Portfolio Manager of Motley Fool Special Ops, applies this book's earnings quality tests to his value and special situations long side to form a long-short portfolio. He is managing partner of holding company Complete Growth Investor, LLC, principal of The Marfa Group, Inc., and a real estate investor.
This talk was hosted by Alex Martelli on behalf of Authors at Google.