– Blackrock Stunner: S&P 500 Profits Are 86% Higher Than They Would Be Without Accounting Fudges (Zerohedge, Dec 26, 2014):
“It becomes tempting to take on too much leverage, use financial wizardry to reward shareholders or even stretch accounting principles. S&P 500 profits are 86% higher than they would be if accounting standards of the national accounts were used, Pelham Smithers Associates notes. And the gap between the two measures is widening, the research firm finds.” – Blackrock