Archive for February 27th, 2008

Parallax Accounting Standards

Wednesday, February 27th, 2008

Maybe this is important, maybe not. But what do I know? I’m holed up here in my rainforest hovel, where the Long Damp has finally returned. I am ignorant of most accounting matters, but I suspect that the current credit crunch is, to misquote John Sayles via Burt Reynolds in “Breaking In”, “a big event in the world of asset pricing.”

Whenever there are opportunities to falsely upgrade values during a boom or falsely prevent them from dropping during a bust, I say keep an eye on the accountants.