Posted by on Jun 4, 2018 in Articles & Advice, Blog, Columns, Featured |

Image Credit: Alex Nabaum


By Jason Zweig | June 1, 2018 12:43 pm ET


Then, as now, companies and investors were engaged in a massive power struggle. Then, companies were worth far more than investors thought — and would do almost anything to keep investors from unlocking the hidden value. Today, companies may be worth less than investors think — and are equally intent on preventing investors from noticing.


To read the rest of the column: 

The Wall Street Journal,




For further reading:


Howard M. Schilit, Jeremy Perler, and Yoni Engelhart, Financial Shenanigans: How to Detect Accounting Gimmicks and Fraud in Financial Reports

Charles W. Mulford and Eugene E. Comiskey, The Financial Numbers Game: Detecting Creative Accounting Practices

Jason Zweig, Your Money and Your Brain

Jason Zweig, The Devil’s Financial Dictionary

Benjamin Graham, The Intelligent Investor

Jason Zweig, The Little Book of Safe Money




Benjamin Graham, “Inflated Treasuries and Deflated Stockholders: Are Corporations Milking Their Owners?” (Forbes Magazine, June 1, 1932)

Securities and Exchange Commission, Regulation G (Conditions for Use of Non-GAAP Financial Measures)

1974 and 1999: History Turned Upside Down

A Note on Benjamin Graham

A Short History of Folly