Post Modern Security Analysis
By John Schroy, on September 12th, 2009 |

The Crash of 2008 suggests that understanding the operational details of capital markets can be as important as traditional Graham & Dodd security analysis.
This article, Part Nine in the series on Post Modern Security Analysis, discusses Capital Market Taxonomy as applied to market operations and the use of a semantic wiki in collaborative research.
Post Modern Security Analysis
By John Schroy, on August 26th, 2009 |

Modern capital markets have become so complex that security analysis methods of the 1930s are no longer adequate.
Excessive, daunting complexity is the reason that security analysts must move now beyond Graham & Dodd.
Complexity is not only in financial information, but in collateral issues such as institutional operations, the interaction of foreign and domestic taxation, and structural risks.
Investor protection:
By John Schroy, on July 11th, 2009 |

The US SEC allows issuers to hide required disclosure by perceptual tricks that remind one of the children’s series, “Where’s Wally?”
These methods include burying warnings in a list of unlikely risks, incorporating facts ‘by reference’, loading documents with irrelevancies, and playing the ‘each fact in the proper document’ game.
Capital Market Taxonomy provides ready-to-use check-lists that help analysts cut through dense disclosure documents.
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