Deep down he actually knows this and, much like some folks on Wall Street playing with rounding, he’s doing it with an agenda.
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There is no Wall Street scandal that resulted from people rounding numbers up instead of down, you don't understand what you're talking about and are not qualified to discuss it
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I said nothing about rounding up or down, just rounding. But in fact rounding up has been a problem. And then you speak of qualifications...! Quite the multilayered gaslighting operation you've got going. One quick example for your reference:https://www.cnbc.com/2018/06/22/sec-investigates-whether-companies-round-up-earnings.html …
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Well that's a fun fact I didn't know, and that I kind of doubt you knew until you googled it just now to own me What of it
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Replying to @arthur_affect @Aya62335284 and
Note that this fun paper - which is indeed a cool paper - jokes about the term "quadrophobia", fear of the number four It is arguing that earnings reports improperly round up rather than down when the digit in question is 4, rather than 5 or higher
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Replying to @arthur_affect @Aya62335284 and
It does NOT say that the SEC should ban the concept of rounding altogether in earnings reports and they should be printed with as many significant digits as the paper will hold Because that's absurd
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Replying to @arthur_affect @Aya62335284 and
They're also not directly cheating anyone out of any money, this is a story about companies subjectively creating a more positive impression of themselves than they should in order to appeal to investors
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Replying to @arthur_affect @Aya62335284 and
Everything about this story is a *demonstration* of what I mean when talking about "fuzzy math" Including the fact that actually punishing companies for "quadrophobia" is likely impossible because the amounts are so small for each instance - fractions of a cent - but add up
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Manipulation of rounding has consequences on Wall Street and elsewhere. Another piece for your reading pleasure. It's quite short. A nice little quote for ya: "Rounding necessarily results in a reduction of precision and the technique used can bias data when applied repeatedly.
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Yes, and it's an issue because rounding is inevitable and necessary It's exactly what I was talking about when I said "Sometimes 2+2=5" ("Both of these are two pounds, what's the big deal" "PUT THEM BOTH ON THE SCALE TOGETHER AND WE'LL SEE")
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I can't believe your takeaway from everything I said is that "rounding is bad" and somehow I am a "supporter of rounding"
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