Professor Elam

Gee time flies.  Seems like yesterday but already Nick Leeson, centerpiece of the movie Rogue Trader, is now out of jail. And guess what, the lad that brought down Barrings Bank with his unsupervised trading of Japanese stock futures, is considering entering the trade again.  The fact that this is occurring against the backdrop of NEW collapsing and H R Block losing 25% of its value this month, makes this all the more fascinating.  Those of you contemplating a forensic or audit career, really should check out this movie.

By the way, for a look at what capitualtion looks like, click here on NEW.  Then click on broker or any of the other two terms at the top right to read the letter that NEW is, well, they don’t say it but, out of business. Not surprisingly NEW did the usual things as things got worse, they lied.  Click to read about it.  Again, this is why we study accounting to learn the hows and whys of setting aside loss reserves. I hope that my emphasis on everything from charting stock prices to socionomics has given you added insight and tools on how to do this for yourself.