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McKenna On Buffett, Berkshire Hathaway, and Kraft Heinz

Has Warren Buffett run out of long-run? The stars aligned and Warren Buffett issued an annual shareholder letter that was forced to include an embarrassing charge for significant losses on Berkshire Hathaway’s investment in Kraft Heinz. Buffett’s letter was a rant against GAAP, and a 180 degree turn from his typical long-term focus. I was in New York […]

Do Investors Care At All About Audits Anymore?

Would investors still pay for an audit if it weren’t legally mandated? Are regulators and exchanges perpetuating a government-mandated oligopolistic exclusive franchise for the Big 4 and a few additional firms that produces information investors now ignore?

MarketWatch 2018 Stories That Packed A Punch

A wrap-up of my writing in 2018 on three topics I’d been following that reached a climax last year — Theranos, FDIC v. PwC and KPMG/PCAOB inspection data theft— and three more where my reporting resulted in a legal or regulatory impact on the companies—ADT, Symantec, and IGC.

The SEC On Non-GAAP Metrics: A Collection of Writing at MarketWatch

Stay tuned as the non-GAAP use comment letters to the companies who didn’t take the hint on their own or who took some prodding in written from to come around, start making it to EDGAR. Should make for some interesting fall reading.