The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 12 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
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: 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: US high-yield bond spreads are near historic tightest levels
“Well, that's the tightest, near the tightest it's ever been, which means that investors are willing to lend money to non-investment grade companies at a spread over what a government bond is at a rate which is the tightest it's been practically in history.”
Scilipoti: Small-Cap and Mid-Cap Earnings Are Flat Outside Mega-Caps
“But what instead I know is I'm looking at the underlying companies, and except for some of the Mag-Seven that are growing their earnings, the smaller and mid-caps are not.”
Scilipoti: Money management fees are a fraction of what they were a decade ago
“The money management fees today are a fraction of what they were Even a decade ago.”
Scilipoti: S&P 493 Shows Zero Earnings Growth Versus Magnificent Seven
“And so if you look at the earnings expectations of the sloppy four 93 for this year is virtually no growth. But if you look at the growth of the mag seven, it continues to go higher.”
Scilipoti: Retail investor share of total investment is at an all-time high
“And today the retail investor as a component of total investment is the largest it's ever been.”
Scilipoti: Pre-Enron rules allowed contingent debt hidden in footnotes only
“And at the time the accounting rules were such that this, these numbers were not included on the liabilities. They were just in the notes.”
Scilipoti: Cisco never regained dot-com peak valuation despite much higher earnings
“Cisco still exists today, but has never traded at its historical valuation. And yet it's a multiples bigger than it was back then by earnings and by revenue.”