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I couldn't agree more! Plus changing the meaning of these terms really doesn't say much about a person who brags about having "financial intelligence"


While I agree that asset and liability might seem like terms clearly defined be a bit more open to alternative viewpoints.

The 'experts' use to think the world was flat. The Catholic Church even took a position on the matter.

Some of the time there is a reason that the facts are wrong but the reason is not understood. If a term is defined to mean something then the definition was made up by someone so it could change in the future. Other than Math there is very little that is absolute in life.

The RK 'redefinition' causes people to think. It challenges conventional wisdom so that people can see things differently.

Accountants can continue to use the term as you expect. That still does not mean that flipping around the meaning does not offer insight into the true nature of an asset or a liability. Not all assets and liabilities are the same. Otherwise people could not use a collection of them to obtain a balanced portfolio.

John Corey
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