A Quote by Andrew Fastow

Mark-to-market accounting is like crack. Don't do it.

Andrew Fastow

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Accounting Crack Like Mark Market

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Andrew Fastow
Businessman
Born: December 22, 1961

We don't understand the equity market well, and so we deploy funds in fixed-income securities, and like any other securities, investment in those securities also need to follow the mark-to-market accounting principle.

Chanda Kochhar

Every quarter, we need to see the portfolio and follow the accounting practice of mark-to-market that values investments according to the prevailing market prices and at the price at which they are made.

Chanda Kochhar

Derivative trading with mark-to-market accounting degenerates into mark-to-model. Two firms make a big derivative trade and the accountants on both sides show a large profit from the same trade.

Charlie Munger

I'm a good learner. I can dig in. I knew nothing about mark-to-market accounting when I started the 'Enron' film.

Alex Gibney

Crack is cheap. I make too much money to ever smoke crack. Let's get that straight. OK? We don't do crack. We don't do that. Crack is whack.

Whitney Houston

Proper accounting is like engineering. You need a margin of safety. Thank God we don't design bridges and airplanes the way we do accounting.

Charlie Munger

You have to understand accounting and you have to understand the nuances of accounting. It's the language of business and it's an imperfect language, but unless you are willing to put in the effort to learn accounting - how to read and interpret financial statements - you really shouldn't select stocks yourself

Warren Buffett

For a hot-shot CEO taking over a troubled company, mass firings are the ultimate quick fix, the accounting equivalent of crack: cheap, easy to score, instantly gratifying, and highly addictive.

Arianna Huffington

We're going to try and prove to the market that you can do a legal coin offering. If the SEC doesn't crack down, this party will be amazing - the biggest party in town for a long time. If they do crack down, a lot of people are going to feel a lot of pain.

Naval Ravikant

To be secure everywhere is the mark of sophistication, to be unshakable is the mark of courage, to be permanently in love with every person is the mark of masculinity or femininity, to forgive is the mark of strength, to govern our senses and passions is the mark of freedom.

Eknath Easwaran

Don't ever let your business get ahead of the financial side of your business. Accounting, accounting, accounting. Know your numbers.

Tilman J. Fertitta

And just remember, every dollar we spend on outsourcing is spent on U.S. goods or invested back in the U.S. market. That's accounting.

Arthur Laffer

I was born with a stain. A mark. Like the mark of Cain. But is the mark of my father, my family. The mark of Borgia. I have tried to be other than I am. And I have failed. And If I have failed you in the process, I am truly sorry.

Cesare Borgia

I studied finance and accounting in college, and I worked at a massive accounting firm out of graduation.

Simu Liu

There is a divergence between private and social accounting that the market fails to register. One essential task of law and government is to institute the necessary conditions.

John Rawls

Aggressive accounting does not mean illegal accounting.

Kenneth Lay

A Quote by Andrew Fastow

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