LogFAQs > #896792924

https://www.usnews.com/news/business/articles/2018-02-26/ge-reshapes-board-after-retroactively-cutting-profits

GE said Friday that it must cut its 2016 per-share earnings by 13 cents, and by 16 cents for 2017. It's adopting new accounting standards for 2018.

The Securities and Exchange Commission investigating the Boston company over long-term service contracts and federal regulators are reviewing a $15 billion miscalculation that GE made within an insurance unit. GE disclosed last month that it would take a $6.2 billion charge in its fourth quarter after a subsidiary, North American Life & Health, underestimated how much it would cost to pay for the care of people who lived longer than projected.

High probability there will be a lawsuit by GE shareholders at this point, because had they been honest about their losses at the time, the present price-action would already have happened.

I still believe the stock will turn around, but to those that warned me against it, know that I consider you to have been correct.

The amount of bearishness on the stock, IMO, is no longer reflective of expectations on upcoming earnings, but expectations that Immelt hid more shit under the rug.

I do still think once we see that there's no more bullshit to reveal, the stock will recover. If I had waited until this month to invest I would be much better off.
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And when the hourglass has run out, eternity asks you about only one thing: whether you have lived in despair or not.