"I think that GTW showed a profit at least one quarter of the last 4 trailing quarters"
I guess this still isn't clear. Here are the last 4 quarters for GTW. Beginning with most recent. -.03, -.05, +.04, +.05
The rule says that when you go back in time that if there are more earnings than losses for any PERIOD, that a stock qualifies. It is irrelevant whether there was a quarter that had earnings - UNLESS it was the most recent quarter.
In GTW's case, you have to go back FOUR quarters to have more earnings than losses (+.09 versus -.08 = +.01). Thus, it qualifies based on FOUR quarters.
But, just for the sake of clarity, let's say that GTW's last four quarters were (beginning with most recent) -.03, -.05, +.04, +.03 (versus +.05). If that were the case, it would not qualify and would have to be a Wild Card for this contest. The reason is that if you go back only one quarter, it is -.03, two quarters is -.08 (-.03 + -.05), three quarters is -.04 (-.03 + -.05 + .04) and four quarters is -.01 (-.03 + -.05 + .04 + .03).
Warren Buffet: 5 minutes and 17 seconds of pure, unadulterated, bulletproof, flawless logic.
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