on his investment valuation book second edition. god i am so tired of hearing about R&D and leasing and how he adjusts everything. why cant he just use normal, non-adjusted stuff.
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mba @ stern? which course?
undergrad at a non-target. im on ch 15 right now. exam is only up to 15 thankfully. material isnt hard, just annoying trying to remember all the adjustments (no cheat sheets or notes allowed)
"why cant he just use normal, non-adjusted stuff."
Think about how stupid that sounds. The whole point of making adjustments is to get the most accurate figures of sustainable cash flow, cap ex, etc..
Anyone can read financials at face value that companies release, but very few are able to dig deeper and make adjustments such as that.
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