Comments on: The Cassandra effect http://www.accmanpro.com/2009/09/09/the-cassandra-effect/ Thu, 09 Feb 2012 10:01:51 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Geoff http://www.accmanpro.com/2009/09/09/the-cassandra-effect/comment-page-1/#comment-6908 Geoff Thu, 10 Sep 2009 22:38:04 +0000 http://www.accmanpro.com/?p=5497#comment-6908 Okay, 2 things: 1. The market can remain irrational longer than you can remain liquid. There was awareness of the financial 'musical chairs' but no one brought their own chair. Lots of people forecast the "unpleasantness" despite all the credit going to Roubini. The burn is that, in the meantime, the transfers of wealth occur. Look back at history; these boom times make family fortunes (provided you can adequately protect yourself after the gold rush) 2. Audit standards are a dog's breakfast. Period. From the outside looking in, there's no way to truely appreciate or comprehend this. Cheers Okay, 2 things:

1. The market can remain irrational longer than you can remain liquid. There was awareness of the financial 'musical chairs' but no one brought their own chair. Lots of people forecast the "unpleasantness" despite all the credit going to Roubini. The burn is that, in the meantime, the transfers of wealth occur. Look back at history; these boom times make family fortunes (provided you can adequately protect yourself after the gold rush)

2. Audit standards are a dog's breakfast. Period. From the outside looking in, there's no way to truely appreciate or comprehend this.

Cheers

]]> By: In the company of Cassandra | called2account http://www.accmanpro.com/2009/09/09/the-cassandra-effect/comment-page-1/#comment-6907 In the company of Cassandra | called2account Wed, 09 Sep 2009 09:20:09 +0000 http://www.accmanpro.com/?p=5497#comment-6907 [...] Dennis Howlett picked up on my theme of incredulity about the professions PR, noted here yesterday. He has said: I am still firmly of the opinion that at least one of the Big Four will fail even though I know ICAEW members and colleagues who think I’m utterly wrong. I agree with Francine the weight of impending litigation is what will bring the situation to a head. The pile of lawsuits is simply too high and in the case of Satyam, will almost certainly require litigating in order to settle. That is one of what I believe will be a series of tipping points. Having said that, my opinion about which of the Big Four fails first varies depending on which news I’m reading at the time. There’s just too much bad news out there. Regardless, the die is cast. [...] [...] Dennis Howlett picked up on my theme of incredulity about the professions PR, noted here yesterday. He has said: I am still firmly of the opinion that at least one of the Big Four will fail even though I know ICAEW members and colleagues who think I’m utterly wrong. I agree with Francine the weight of impending litigation is what will bring the situation to a head. The pile of lawsuits is simply too high and in the case of Satyam, will almost certainly require litigating in order to settle. That is one of what I believe will be a series of tipping points. Having said that, my opinion about which of the Big Four fails first varies depending on which news I’m reading at the time. There’s just too much bad news out there. Regardless, the die is cast. [...]

]]> By: Stuart Jones http://www.accmanpro.com/2009/09/09/the-cassandra-effect/comment-page-1/#comment-6905 Stuart Jones Wed, 09 Sep 2009 08:47:36 +0000 http://www.accmanpro.com/?p=5497#comment-6905 I'm with you Susan (and you Dennis). I'm with you Susan (and you Dennis).

]]> By: Tax Research UK » In the company of Cassandra http://www.accmanpro.com/2009/09/09/the-cassandra-effect/comment-page-1/#comment-6906 Tax Research UK » In the company of Cassandra Wed, 09 Sep 2009 07:50:47 +0000 http://www.accmanpro.com/?p=5497#comment-6906 [...] Dennis Howlett picked up on my theme of incredulity about the professions PR, noted here yesterday. He has said: I am still firmly of the opinion that at least one of the Big Four will fail even though I know ICAEW members and colleagues who think I’m utterly wrong. I agree with Francine the weight of impending litigation is what will bring the situation to a head. The pile of lawsuits is simply too high and in the case of Satyam, will almost certainly require litigating in order to settle. That is one of what I believe will be a series of tipping points. Having said that, my opinion about which of the Big Four fails first varies depending on which news I’m reading at the time. There’s just too much bad news out there. Regardless, the die is cast. [...] [...] Dennis Howlett picked up on my theme of incredulity about the professions PR, noted here yesterday. He has said: I am still firmly of the opinion that at least one of the Big Four will fail even though I know ICAEW members and colleagues who think I’m utterly wrong. I agree with Francine the weight of impending litigation is what will bring the situation to a head. The pile of lawsuits is simply too high and in the case of Satyam, will almost certainly require litigating in order to settle. That is one of what I believe will be a series of tipping points. Having said that, my opinion about which of the Big Four fails first varies depending on which news I’m reading at the time. There’s just too much bad news out there. Regardless, the die is cast. [...]

]]> By: Dennis Howlett http://www.accmanpro.com/2009/09/09/the-cassandra-effect/comment-page-1/#comment-6904 Dennis Howlett Wed, 09 Sep 2009 02:35:43 +0000 http://www.accmanpro.com/?p=5497#comment-6904 It has to happen because otherwise any meaningful restructuring won't matter. It has to happen because otherwise any meaningful restructuring won't matter.

]]> By: Susan Scrupski http://www.accmanpro.com/2009/09/09/the-cassandra-effect/comment-page-1/#comment-6903 Susan Scrupski Wed, 09 Sep 2009 02:28:04 +0000 http://www.accmanpro.com/?p=5497#comment-6903 Give'm hell Den. "...where a meaningful ethical compass drives the way they do business." In our lifetime? I doubt it. But I've become a cynic too. Give'm hell Den. "…where a meaningful ethical compass drives the way they do business." In our lifetime? I doubt it. But I've become a cynic too.

]]>