
125: Is Active Management Worth Paying For? With Terry Smith (CEO, CIO & Founder of Fundsmith)
Money Maze Podcast
The Decline of Research Standards and the Problem with Management Presentations
In this chapter, they discuss the decline of research standards and the lack of interest in reading footnotes in company accounts. They share a personal experience where they found a major error in IBM's cash flow, highlighting the problem of relying solely on management presentations and adjusted numbers.
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