Warren Buffett lessons
Misleading ‘record’ earnings
When companies say they achieve record earnings, be wary how they define “record” earnings. Warren Buffett said in a March 14, 1978, shareholder letter: “Most companies define ‘record’ earnings as a new high in earnings per share. Since businesses customarily add from year to year to their equity base, we find nothing particularly noteworthy in…
Read More about Misleading ‘record’ earnings