The one place where it would seem like it would be harder to hide this hand wavy stuff on it is the earnings statement, but companies have ways of adjusting that. The basic thing of earnings is net income, right? Well, if that doesn't work, you know, companies go to operating income or EBIT earnings before interest in taxes. If that's not great enough, adding back depreciation and amortization to the EBIT number. Now you can add back things like stock-based compensation and restructuring or one-time charges. That gets really tricky. Give yourself low expectations and you'll never be disappointed.

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