(More money, it has been noted, has been stolen with the point of a pen than at the point of a gun.)
Selective disclosure as Buffet sees it is a corrupt practice that limits the opportunities of the individual investor and only advantages agencies and their business ties that are looking for an edge.
Another problem associated with this is the pressure then for CEOs to meet their “numbers”. Bad accounting practices can lead to companies having to play catch up quarter by quarter until their numbers are really in trouble.
