I'm not going to get into the argument about whether or not FRM's current earnings can be relied on into the future, right now. But talking about that "Boat Fund" report, if they're willing to trumpet the 2.5% "rise in profits", as their opening sentence, when it was purely a consequence of PPE writedowns in the pcp, then i know what i would be doing with that report (and it would't be framing it and putting it on my wall).
That is breathtaking. It either means they barely looked at the financials, or something much scarier. In truth, i question the wisdom in any claim of improved profitability when it amounts to 2.5% in any one reporting period. But under these circumstances, it's just plain asinine.
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- Good Write Up From The Boat Fund - Feb Report
I'm not going to get into the argument about whether or not...
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