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To Dueling Fools, Michael Goode and Rick Aristotle Munarriz:

There is a saying, “When the core is rotten nothing but garbage flows from it.”

You are well advised to read accounting literature relating to a concept known as “tone at the top.”

With the above in mind, there is another saying, “Don’t trust, just verify. Verify, verify, and verify.”

For example, dig deep into the company’s disclosures from all sources and cross check information for inconsistencies and contradictions.

Read carefully qualitative information side by side with quantitative information.

Audited financial statements provide very limited assurance as to the integrity of financial information.

With respect,

Sam E. Antar (former Crazy Eddie CFO & convicted felon)

PS: I enjoyed reading both of your articles and wish you both a great holiday and new year.
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