Shaws Jan 31 Note, page-13

M&T is due to report tomorrow but I'm a little anxious only because M7T will be one of the last companies to announce their results. I don't know if it is my imagination but from this reporting period and even previous ones, the companies that report later in the month seem to announce results that either fail or only meet market expectations but not exceed. Granted many of these are small caps but I just find it too much of a coincidence that most of them report near the end of February. Are these companies hoping everyone is so exhausted from reporting season that they won't notice? I liken it to companies making a poor announcement after the market closes. Hopefully this does not portend things to come.