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on 21 August 2017
the textbook for shortsellers attempting to uncover financial frauds
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on 20 July 1998
Schilit does a great job putting some often overlooked and common financial practices into perspective as it relates to examining the quality of a company's financial reports. Many of the topics covered in the book are conceptually easy to understand and supported by real life examples.
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on 12 August 2003
Withholding judgement on whether this is a worthwhile book or not...the spelling mistakes within the first few pages do not give the reader any confidence to take seriously what the rest of the book contains!
The real-world examples always seem to revolve around the fact that the author's outfit of analysts issued warnings related to a company's accounts before some irregularities were announced to the market.
I think following Warren Buffett's advice not to invest in anything you don't understand would help 99.9% of investors avoid investing in companies with questionable accounting.
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Author Howard Schilit writes in surprisingly plain English, and provides the reader with a toolkit to determine what’s so rotten in Denmark — or on Wall Street. You don’t have to be an experienced reader of financial reports to learn a lot from this book. Schilit offers more than theory; he provides specific examples and case studies. Learn about the manager who reduced future expenses by purchasing $12 million worth of advance postage metering at the end of the year. Find out how “Chainsaw Al” Dunlop drove up the price of Sunbeam stock by creating a $35 million reserve, all while laying off 11,000 employees. Learn the inside story of how Enron became the poster child for corporate wrongdoing. We highly recommends this book to independent investors, and anyone else who needs to understand how unethical execs cook the books. It may not save you from losing a bundle, but at least you won’t feel like you’re in a battle of wits and devoid of weaponry.
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Author Howard Schilit writes in surprisingly plain English, and providesthe reader with a toolkit to determine what's so rotten in Denmark - or onWall Street. You don't have to be an experienced reader of financialreports to learn a lot from this book. Schilit offers more than theory; heprovides specific examples and case studies. Learn about the manager whoreduced future expenses by purchasing $12 million worth of advance postagemetering at the end of the year. Find out how "Chainsaw Al" Dunlop droveup the price of Sunbeam stock by creating a $35 million reserve, all whilelaying off 11,000 employees. Learn the inside story of how Enron becamethe poster child for corporate wrongdoing. We highly recommends this bookto independent investors, and anyone else who needs to understand howunethical execs cook the books. It may not save you from losing a bundle,but at least you won't feel like you're in a battle of wits and devoid ofweaponry.
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on 15 November 2009
Financial Shenanigans is not a quick read. But, it elevates an investor to a completely different level. Warren Buffett said Rule No. 1: Never lose money, Rule No. 2: Never forget rule No 1. If you are serious about investing, and most importantly, protecting yourself from losing a lot of money, you need to read this book because it teaches you what managers can do to fool investors by playing the financial numbers game.

- Mariusz Skonieczny, author of Why Are We So Clueless about the Stock Market? Learn how to invest your money, how to pick stocks, and how to make money in the stock market
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on 1 May 2015
Unless your an accountant or are 100% committed to reading and absorbing company financials. Don't bother with this book. Its not for the layperson.
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on 25 February 2015
Great quality!
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on 17 April 1999
This book helps me avoid stocks that blow up. It is a very useful tool that no investor should be without.
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