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March 21, 2007 – Comments (6)

For a very long time I have been saying that small investors like me, need to pay close attention to financial information garnered from financial websites, as information obtained from these places, and that includes Fooldom by the way, may not be accurate.

A recent blog article is again reminding folks that this information is probably not very accurate.

While I post this information here, I am acutely aware, that the odds of anyone seeing it are slim to none, and the odds of anyone heeding the information is actually less than that. But at least I am trying.

At any rate, follow up comments can be left here if at some future date, someone stumbles upon this information.

 

Wax 

 

 

 

 

 

 

6 Comments – Post Your Own

#1) On March 21, 2007 at 8:31 AM, devoish (98.05) wrote:

Wax,

Thanks for the reminder that we all need to do our own "Due Diligence".

This is the aspect of the Fool I like the most. Their efforts to teach, to explain why a pick is good, instead of just sending me a ticker symbol.

And for the "Fools" like you who help to further those efforts.

Thanks,

Steven

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#2) On March 21, 2007 at 6:18 PM, wax (96.58) wrote:

Steven;

Thanx for the kind words. Fooldom has helped me a great deal over the years, so like many others, I'm always at least trying to give something back  .

Wax

 

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#3) On March 21, 2007 at 8:07 PM, TMFKopp (98.05) wrote:

I actually read that entry from Peridot earlier today. It's certainly good to keep in mind, as those numbers can be wrong an awful lot. It's nice and easy to take a quick look at a stock, but you gotta love Sec.gov when you're going to put your money on the line!

Kopp 

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#4) On March 22, 2007 at 12:48 AM, degaston (99.59) wrote:

I got to agree with the sentiments of this outstanding thread on the importance of doing due diligence. But I have definitely found the stock screeners using data from Yahoo! Finance, E*Trade, CAPS and other places to be excellent resources for finding new stocks to start analyzing. But I would NEVER begin to do homework on a stock without going to http://www.sec.gov/edgar/searchedgar/cik.htm in order to find the CIK of the company I'm researching. Then I'll add a folder to my Internet Explorer favorites to include all the important links I find for a particular stock. In the case of IUSA (a stock that is very underpriced right now) I have http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=879437 and http://www.google.com/search?hl=en&ned=us&q=%22infoUSA+INC.%22&ie=UTF-8&sa=N&tab=nw  and  http://www.google.com/search?hl=en&q=IUSA and http://search.yahoo.com/search?p=%22Vinod+Gupta%22+or+%22Monica+Messer%22&fr=yfp-t-405&toggle=1&cop=mss&ei=UTF-8 and http://news.google.com/news?hl=en&ned=us&q=%22Salesgenie%22&btnG=Search+News and http://www.infousa.com as bookmarks in this folder.

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#5) On March 22, 2007 at 12:49 AM, degaston (99.59) wrote:

BTW wax I find your blogs to be one of the most helpful ones on CAPS. Thank you a bunch.

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#6) On March 23, 2007 at 6:05 AM, wax (96.58) wrote:

Folks thanx for the kind words, I'm always willing to help.

I continue to explore sites that have or offer financial statements. Please believe me when I tell you it has been a wild ride thus far.

While SEC.gov is of course the right place to go, it has been my experience that I spend a lot of time looking through a 10-K which, at the end of the day, doesn't contain an actual financial statement.

Many times when I'm posting something about a company or companies, I like to at least have taken the time to glance through the financials as well as poke through the latest news. Trying to do this with a 10-K is a bit time consuming.

Many companies do place their annual report on-line, and many of those contain the financial statement information I'm looking for. The problem is it can take several months past the actual filing date for that information to show up on the company's website. 

Over the years I have subscribed to Edgar Online, Value Line, and AAII. None of these sites has what I'm looking for. Reuters used to have the best, but their redesign, well to me, it is extremely first grade.

And so upward and onward. Just be careful using the information you find. As I have learned, it ain't always what you think it is.

Wax 

 

 

 

 

 

 

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