Daily Newspapers Can Be Hazardous to Your Health
Nor does The Post report that today, Securities and Exchange filings show Generation Investment is getting out of alternative energy and is instead filling its portfolio with high-tech, bio-tech and consumer products, such as Amazon (AMZN), eBay (EBAY) and Colgate Palmolive (CL).
And none of this is worth mentioning?
That is why smart investors have to rely on better sources of information.
Here's another example: By now, everyone knows the Solyndra story. But here's one question people never asked: Why did it take so long to come out?The president of the United States travels with 25 to 50 reporters, and local reporters often boost that number to over 100. When President Obama showed up at Solyndra in early 2010 to pronounce it the future of energy, not one of those reporters took one minute to read a statement from Solyndra's auditor that said it was no longer a going concern. It was easy to find online. And lots of people in the energy investment world knew about it. Yet no one wrote the story. I wrote about it shortly afterward in the Phoenix Business Journal and other places. Several of my readers forwarded the story to business reporters -- many of whom belong to something called the Society of Environmental Journalists -- and they said they were aware of the "not a going concern" audit statement, but it was not important. I don't know whether they were being deceitful-or just dumb. But I prefer to get my investment information from people who know this basic financial fact: A statement of "not a going concern" is a death knell. Not a buying signal. But not one of the 100 reporters covering Obama that day that figured it out. Have you checked The Washington Post stock price lately? It is down 55% over the last five years. I promise you: Even Gore would not have that in his portfolio. This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.
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