Poor Charlie's Counterattack
Charlie Munger - at the finally annual coming together of the Daily Journal Corporation - where Charlie is Chairman - said or together with then pithy materials almost Valeant (and implicitly the CEO J Micheal Pearson). Late Great Abe Briloff lasted until historic menstruum 96. He died inwards 2013. I withal immature adult woman him.
John
*It is fair to order that ex-post the depression marking of conglomerate taxes reflected the depression marking of underlying profitability - rather than the high marking of stated profitability. When y'all consider a companionship that earns $400 i one m thousand simply pays entirely $750 one m taxation y'all convey to inquire whether it has rattling clever taxation accountants or grossly overstated fiscal accounts.
[$400 i one m thousand turn a profit together with $750 one m taxation was Bond Corporation inwards its concluding year. Bond Corp is a rattling famous Australian roll-up bankruptcy. Asked almost the huge turn a profit together with depression taxation nib i analyst correctly replied: "profit - I create non consider whatsoever profit".]
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