Anthony Scilipoti
President & CEO, Veritas Investment Research. On 1 show, 2 appearances. The Shows tab opens the full record on each.
analystfounderexecutiveinvestoracademicveritascorp.com ↗
Anthony Scilipoti is the President and CEO of Veritas Investment Research, specializing in forensic financial statement analysis. He co-founded the firm in 2000 and has served as an accounting educator at York University's Schulich School of Business.
1shows
2appearances
44statements
12resolved
6supported
3contradicted
50%fully supported
Everything Anthony Scilipoti said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Scilipoti: The AI Ecosystem Relies on Circular Financing Involving Nvidia
“NVIDIA invests in OpenAI, and NVIDIA is a supplier of chips to OpenAI. So it's all circular, what's going on here.”
Scilipoti: EBITDA Is the Mother of All Disastrous Financial Measures
“EBITDA is the mother of all disastrous measures.”
Scilipoti: In Raging Bull Markets, Experience and Knowledge Become Handicaps
“During raging bull markets, knowledge is superfluous, and experience is a handicap. Because if you have the benefit of knowing what happened in all the other blowups, you know how painful it could be. But if you've never experienced it, and every time somethin…”
Scilipoti: Vendor-Financed AI Chip Bubble Is Highly Vulnerable to Collapse
“But if this is happening over hundreds of transactions, where it's making investments like this, in its own customers, then what ends up happening if all of a sudden it runs out of the ability to get cash or the customers end up having problems selling service…”
Scilipoti: Apple's Debt-Funded Share Buybacks Pose a Major Financial Risk
“And I look at Apple, and this is what concerns me. Revenues are growing. Minimal. And yet, it generates meaningful cash because it has a brand. People are still willing to pay eight, 2000 dollars for a new phone. There's a lot of competitors, and I'm not sure …”
Scilipoti: AI will completely replace entry-level junior financial analysts
“The bottom level of being an analyst, the junior analyst is, is going to be replaced by an AI. The one that said, find me all the references of, you know, where the company capitalized costs. That the AI can do.”
Scilipoti: Arthur Andersen was scapegoated for systemic accounting flaws
“It became a scapegoat for everything wrong with accounting at the time, and look, change needed to happen.”
Scilipoti: AI Will Replace Junior Financial Analysts Completely
“The bottom level of being an analyst, the junior analyst is, is going to be replaced by an AI.”
Scilipoti: AI Automation Destroys the Financial Analyst Training Ground
“If that junior person doesn't learn, doesn't get on the in on the ground floor, they'll never learn to be able to make all those connections.”
Scilipoti: Equity markets have entered a period of extreme euphoria
“I think we're in what seems to be, you know, and I hate calling things bubbles, but I think we're in a period of extreme euphoria”
Scilipoti: Private equity blindly piles into companies Nvidia invests in
“If you see that my name as a key investor and a leader in this industry is making an investment in this company, well, then what does everybody else do? Warren Buffett tells you he's buying something. What does everybody do? They go buy it. Well, if NVIDIA is …”
Scilipoti: Veritas Was the Only Sell Rating on Valeant in 2012–2013
“We wrote about Valiant. We said sell Valiant, ok? We're the only sell on, on Valiant in 20 12, 2013. The company didn't blow up until 2015, ok?”
Scilipoti: Valeant Manipulated Accounting and Ran Fraudulent Pharmacy Network
“If you look deeper, they were just manipulating the accounting and changing the pricing on, on drugs and creating a fraudulent network of online pharmacies.”
Scilipoti: CPP and US pension funds should invest domestically
“I think CPP should do the same. CPP should be encouraged to invest in Canada. The U.S. Pension plan should buy U.S. Companies. Encouraged to do that.”
Scilipoti: Acquisition costs are not one-time expenses for serial acquirers
“If making acquisitions is part of my business model, there are no longer one-time costs.”
Scilipoti: Stock Options Must Be Accounted for as an Operating Expense
“I think stock options should be an expense. And if they're not an expense, I borrow from Buffett and even the chair of the accounting has said things like this, that, that if it's not an expense, then what is it?”
Scilipoti: Boards must represent broad stakeholders, not just calculated shareholder value
“The role of the board is to embrace the position of and the viewpoint of the shareholder, and or the stakeholder, I, we always, always focus on the shareholder, but stakeholders, stakeholders, employees customers, the communities the company works in, the comp…”
Scilipoti: Passive Index Investing Is Essentially Automated Momentum Investing
“The danger I think we're having of the index investing, passive investing, is that in essence, all that is, is momentum investing, because it's a, you're buying an index, which is market cap weighted, So the money that you're investing is going to the largest …”
Scilipoti: Stock buybacks signal a lack of high-return business investments
“So to me, it's a point that says I have no other investments in my business that That would generate a return higher than my cost of capital, and so I'm going out and buying my stock, and I think that is very risky.”
Scilipoti: If markets had superior information, earnings news would not move stock prices
“If we had better information, then you know what? Stock prices on news would hardly move. Everybody would already have known.”
Scilipoti: AI information is useless without prior domain expertise and direction
“The AI makes me get to the answer perhaps more quickly, but it's my, if I don't already know where I want to go, then AI just gives me information. But that information doesn't help my decision if I didn't start with where I want to get to.”
Scilipoti: Arthur Andersen was cleared on appeal after already collapsing
“And so it was found in the courts upon appeal that Arthur Anderson was not guilty, but that was way after the fact because Arthur Anderson was already was brought to its knees and it was over.”
Scilipoti: Audits face structural conflicts due to client-paid compensation models
“And the challenge is time, because you have to do this quickly. Pressures on costs. And essentially, think about it this way. It's like, I tell you, look, I just prepared my report card. I got an A. I now hand it to you and say, look, it's an A. And if you say…”
Scilipoti: Investors Must Master Financial Fundamentals Before Relying on AI
“You need to learn it without the calculator, and then you can use the calculator, which is the same with AI. You need to understand how the financial statements are prepared, understand the linkages, developmental models, so that when the AI gives you informat…”
One line per show, most statements first. The link opens Anthony's full record on that show: the calibration, argument clarity, speaking style and every statement made there.
| Show | Role there | Eps | Statements | Record | |
|---|---|---|---|---|---|
 KNOWLEDGE PROJECTLEDGER | President & CEO, Veritas Investment Research | 2 | 44 | 50% 6/12 | full record on the Knowledge Project → |