SLXP—The astonishing thing about yesterday’s CC is that management kept repeating the line that the accounting for inventory was done according to GAAP, as though that was what the problem was. The real issue, of course, is that management egregiously lied to investors about the amount of wholesale inventory during the past year or so.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”