Title: They can't do math
Product review: While the falsity of the Beardstown Ladies' 23.4% annual return has been well-publicized, there are other, less-noticed clues in the book that the authors simpply can't do math. There is a reference to an 88% over 16 months, or "66% annualized." But an 88% return in 16 months corresponds to 61% annually. Worse, they report a 72% loss on a stock over 2.5 years, or a 29% annual loss. But 72% over 2.5 years annualizes to 40%. This is high school math. Furthermore, their claim to be fundamental analysts is deceptive. They define fundamental analysis largely as looking up stock price statistics in ValueLine.
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