So-Called “Earnings” Season Again—-If You Can’t Make It, “Adjust” It!

Names like Enron, Worldcom, Global Crossing, Lucent Technologies, and a vast graveyard of others have long been forgotten and are now ancient artifacts of an age gone by. Much like then, today we see companies going public like Lyft, Uber, Instagram, and others who have massive cash burn rates, little to no prospect for profitability in the near future, and astronomical valuations.