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Who Writes the Headlines?

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May 06, 2008 – Comments (7) | RELATED TICKERS: GG

 The headline reads:

Goldcorp First Quarter Earnings Increase 84%

My question is where was the headline:

Goldcorp's Earnings Down 82% From Peak

Or:

Goldcorp's 32c EPS Still Way Below Best Quarter of 50c

They had a stinking $229.5 million of net earning and out of that $136.5 million was from a gain from the sale of Silver Wheaton. Read their adjustments closer and they include currency changes as an adjustment so that with adjustments they can say they earned 23c instead of 13c.  You think the US dollar is going to go back to where it was and these currency changes won't continue?

Every quarter on this company the reporting is total BS and dishonest. 

7 Comments – Post Your Own

#1) On May 06, 2008 at 10:13 AM, TMFBent (99.82) wrote:

Dwot, having worked in newsrooms across the country, I can firmly say: the odds an idiot wrote those headlines are very high. The probability it's written by someone who doesn't know squat about real financial reporting -- the kind that would interest a shareholder -- are near 100%.

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#2) On May 06, 2008 at 12:20 PM, HistoricalPEGuy (62.32) wrote:

I think that there are like 5 templates to choose from:

Template 1:  [BLANK] Swings to Profit in Q1

Template 2:  [BLANK] Swings to Loss in Q1

Template 3:  [BLANK]’s Earnings increase X% in Q1

Template 4:  Q1 Earnings down X% for [BLANK]

Template 5:  Stocks Rise/Fall due to concerns about [Enter Random Market Condition]

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#3) On May 06, 2008 at 3:06 PM, camistocks (< 20) wrote:

The Motley Fool disagrees:

Goldcorp's Looking Shiny 

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#4) On May 06, 2008 at 5:35 PM, madcowmonkey (< 20) wrote:

oooooooooo. Shiny.

dwot, do you have another blog page that you use besides caps. I read an article today that sounded like something you wrote and it made me wonder if you write anywhere else.

Coffee bad today or what? 

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#5) On May 06, 2008 at 6:57 PM, dwot (61.86) wrote:

TMFBent, I have tried to get things reported so I've seen how badly they work from that perspective, and I've seen how badly they've reported on stories that I know about.  One that grieves me is friends who lost their son.  He had a level 2 learners licence and two other girls died with him.  The media was disgusting in sensationalizing that rather then telling the story of three great kids that died tragically.  When the police report came out, well, he wasn't the driver, but the friends and family were given a lot more grief over the media being judge an jury on a non-issue.  There wasn't even evidence of excessive speed.  It was bad corner and it was drowning in the ditch that killed them rather than the accident.

Another time the media did a very good job on a store that had repeatedly broken the law over selling cigarettes to kids.  Well, they threatened to withdraw advertising on all tobacco owned products, Kraft, etc., and the reporter was forced to write another story that completely minimized it.  I boycott tobacco owned brands as best I can because of their control of the media.  Indeed, the reporter almost lost his job, yet the story was rock solid.  The media is very bought on some very important things.

 HistoricalPEGuy, I think so...

camistocks, I don't think the fool personally endorse's writer's opinions.

madcowmonkey, what did you see.  I had my commodity posts mirrored on informine when I was writing them fairly regularly.  They've just sent me an email that they've moved my blog.  I haven't looked yet. 

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#6) On May 07, 2008 at 10:53 AM, madcowmonkey (< 20) wrote:

You know, I can't really think of the sight, but it matched your writing style and some ideas to a T. I will try to find the sight again today, but most of the time I never visit a new sight twice. I try and find new ones through out the day and see which ones are misinforming or doing a good job. Since most are backed by opinions, I would say it is 30% good and 70% baaaaad. The sight that I did go by discussed the derivatives issue that is coming/here.

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#7) On June 03, 2008 at 10:52 PM, TheGarcipian (60.53) wrote:

Hi D,

I take it that the Goldcorp story is not from the newswire? Anything listed as from "Business Wire" or "PR Newswire" is a PR release directly from the company. And for the most part, this is where most of your Reuters, AP, MarketWatch and TheStreet.com stories come from, or are at least based. So, do as I do, and ignore the headlines, except perhaps as a passing fancy in the study of marketing slogans on the pscyhology of humans.

Personally, I like HistoricalPEGuy's template list. That pretty much sums it all up for me.

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