properties are a billion dollars short, page-10

making up numbers as you go along?


is this like the joke about the three guys sharing a room and paying 10 each and the manager, realising the room should only have been 25 dollars, he gives 5 dollars to the bell boy to give back to the three guys.

the bell boy gives each of the guys one dollar, meaning they only paid 9 dollars each and keeps the remaining two dollars.

three times nine plus two dollars is 29.. where's the extra dollar?


cause your imaginary numbers of short term debt minus "shareholders funds" doesnt include the offsets of assets and long term debt.

ie

shareholders funds = assets - long term debt - short term debt.


which, as anyone knows, is more than +$4B.

or $5 per share.