UAFRS vs As Reported Weekly Highlights - 2018 05 02
This week, Valens identified distortions and the corresponding adjustments to correct for those distortions for ORCL, MSCC, and DLX.Deluxe is engaged in providing payment solutions. The company's marketing solutions and other services provides products and services designed to meet its customers' sales and marketing needs, as well as various other service offerings. The company's forms, accessories and other products provides printed business forms, including deposit tickets, billing forms, work orders, job proposals, purchase orders, invoices and personnel forms, as well as computer forms compatible with accounting software packages commonly used by small businesses. The company also provides other customized products, including envelopes, office supplies, ink stamps, labels, deposit tickets, check registers and checkbook covers.
Microsemi designs, manufactures and markets analog and mixed-signal semiconductor solutions. The company provides a portfolio of semiconductor and system solutions. Products include radiation-hardened analog mixed-signal integrated circuits, field programmable gate arrays, system on chip solutions and application-specific integrated circuits; power management products; time solutions; voice processing devices; radio frequency solutions; discrete components; enterprise storage and communication solutions; security technologies; Ethernet solutions; Power-over-Ethernet integrated circuits and midspans; as well as custom design capabilities and services.
Oracle provides products and services that address enterprise information technology (IT) environments. The company's products and services include applications and infrastructure offerings. The company's cloud and license business engages in the sale, marketing and delivery of its applications and infrastructure technologies through cloud and on-premise deployment models including its cloud services and license support offerings; and its cloud license and on-premise license offerings. The company's hardware business provides Oracle Engineered Systems, servers, storage, industry-specific hardware, operating systems, virtualization, management and other hardware-related software to support diverse IT environments.
In 2009, just as the dust was settling from the last major equity and credit market crises, we launched a boutique research firm with the intention of breaking Wall Street’s biases and broken incentives:
- GAAP and IFRS have failed to provide rules for reliable financial statement reporting
- Stock analyst recommendations are not grounded in disciplined financial analysis
- Credit agencies have been set up to grossly fail in their responsibilities to investors and the public markets
- Utter lack of willingness of major research firms to employ the the most advanced forensic analysis available
We sought to provide investors and company analysts with a source of information that changed all that.
Many years later, our business model remains because little has changed on Wall Street.
- Corporate credit ratings remain years behind the fundamental underpinnings of company performance
- Stock analysts continue to make recommendations with deeply inherent biases
- Research firms have failed to break down the walls between credit, equity, and macroeconomic research
- The governing accounting bodies have created more leeway for mis-estimates and mis-classifications as financials have become unwieldy and overwhelming
The integrity of Valens Research is founded in our disciplined processes and analytics. No “star” analysts. No corporate advisory relationships. No-nonsense opinions and recommendations.
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