Complete Growth Investor

News of Note
Dallas Biz Columnist Lauds Del Vecchio ETF

Tax season has passed, and now, earnings season has begun. Daily press releases and conference calls give investors much to focus on -- and less time for themselves!

But according to well-respected Dallas Morning News business columnist Will Deener, earnings aren't always what they seem. He writes:

"Much of what passes for fair and accurate earnings reports is fiction, or the truth stretched so thin it's hardly
recognizable. Shrewd corporate financial officers use all manner of financial levers to manipulate the income
statement in order to beat Wall Street expectations.

"For example, revenue that should have been booked in the second quarter is shifted into the first quarter to make things look better now. Some companies push inventory out the door to reluctant customers by offering big discounts. And they deliberately misclassify routine expenses as one-time, non-recurring charges."

How can an individual investor know what's real and what's manipulated? According to Deener, any small investor can have the work and research done by simply purchasing shares of  FLAG -- the Forensic Accounting ETF created by John Del Vecchio, co-author with Tom Jacobs of What's Behind the Numbers?

Read Deener's column to learn more about how the fund works. He also takes a look at FLAG's performance during its first full year of operation.

News of Note
L.A. Story: John and Tom Go West

Has the market's recent volatility got you spooked? Are we in yet another bubble that's about to burst?

Learn how to manage your portfolio to avoid losses from market mania in a seminar on April 19 in Los Angeles, sponsored by the American Association of Individual Investors. John Del Vecchio and Tom Jacobs, co-authors of What's Behind the Numbers?, will be presenting "Expose the Chicanery, Avoid Losses." You'll learn:

  • •  Why increasing market complexity means more bubbles and crashes
  • •  Why risk management is more important than chasing gains
  • •  Which factors are the best predictors of poor stock performance

Also on the program is Mebane Faber, Co-founder and Chief Investment Officer of Cambria Investment Management, who will give a presentation entitled: "Global Value: Spotting Bubbles, Avoiding Crashes, and Big Returns." You'll learn:

  • •  How to evaluate international stock markets
  • •  Which markets are expensive now and which are cheap
  • •  Where the U.S. market stands and what returns can we expect going forward

This promises to be a stimulating and revealing program that's sure to give you a different take on investing. Here's the info:

Date: April 19, 2014
Time: 8:30 am (Registration), 9:00 am - noon
Place: Skirball Center
2701 N. Sepulveda Blvd.
Los Angeles
Price: $10/person (at the door)

Don't miss this chance to see John and Tom if you're in the LA area. For more info, click here.

Hope to see you there!

News of Note
Bear Case: Short Version

Insiders are selling at a rate of 19 to one. Corporate secondary offerings were the highest on record last year. Sixty percent of IPOs are unprofitable, which is the most since 2000.

And if that's not enough, Facebook just paid $2 billon for a pair of goggles....

News of Note
Beware of Earnings Quality

Not enough earnings quality from Tom and John's book? Then get more dessert! Here's Columbia Management on the subject. Some of it will be very familiar, but they offer a few special twists.

News of Note
The Truth About Buybacks

When a company repurchases its shares, it should be beneficial to shareholders. But not all buybacks are created equal.

In this article, The Motley Fool's Tom Jacobs takes a look at buybacks, and reveals five specialty retail companies that have a dependable history of paying investors back through share repurchases.

News of Note
Fright Night in the Markets?

Have the markets been scaring you?

Brad Lemensdorf, co-manager, with John Del Vecchio, of the Ranger Active Bear ETF (HDGE), issues his March 2014 market timing letter. Whether "market timing" attracts you or puts you off, the data is worth everyone's time.

Is there really "money on the sidelines?" How do current put/call, bullish/bearish, and price-to-sales ratios stack up historically?

Along with margin debt and insider selling numbers, this month's issue presents the facts. They are not good... but see for yourself just how bad. Are we seeing a red hot sell signal?

Get it here.

News of Note
Three Worthy Shorts

What does Brad Lemensdorf, co-founder and co-manager of the the Ranger Active Bear ETF (HDGE), think about the markets in 2014? In this interview with Bloomberg's Queen Mel, Brad discusses:

• The three main concerns facing investors in 2014
• What the Fed's Janet Yellen has in store for this year
• Where investors can find opportunities now

More importantly, he reveals three companies that he believes are worthy shorts now, including some that are already in a bear market.

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