Saturday, March 11, 2006

How do you define 'cash flow'

Comcast doesn't believe that you should define it according to GAAP (Generally Accepted Accounting Principles). By their definition last year's cash flow was $8.5 billion; the GAAP definition was $4.9 billion. Just a small difference!

You really have to carefully - very carefully - read all the footnotes in a company's financial statements before investing a nickel.

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