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It used to be if you were an informed person or if you had business training, you could pick up an annual report and reasonably evaluate the financial condition of a public company.
Now, unless you're an insider - you really can't determine the true value of a company. I have a friend who worked on Wall St tell me that unless you have inside information or are working in the industry, you have no idea what is going on and no business buying securities - that's a helluva an indictment. They need to restore transparency to publicly traded companies so investors can hold some credence that the books are'nt being cooked.
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