The DGTD Players proudly present “The Age of Hyporis-igyâ€
[Curtain rises to a scene of ‘Ghost of Igloi', ‘Earnie', ‘Investment Advisor’, and ‘Say wha?’ sitting at a table.]
Earnie: First quarter earnings are looking good according to FactSet.
Ghost of Igloi: FactSet uses non-GAAP earnings and they are inflated.
Earnie: FactSet uses actual results.
Ghost of Igloi: ’Actual results’ are GAAP.
Earnie: But you said FactSet numbers were non-GAAP.
Ghost of Igloi: Ya sure. Sa Wha Eva ya Sa? Ya know?
Investment Advisor: The non-GAAP numbers aren’t overly inflated. The article you posted says the median difference is less than 12%.
Ghost of Igloi: That number is soooo insignificant.
Investment Advisor: But you said that non-GAAP numbers are significantly higher than GAAP numbers?
Ghost of Igloi: Ya sure. Sa Wha Eva ya Sa? Ya know?
Say wha?: Can you tell us why that 12% number is insignificant?
Ghost of Igloi: You don’t even know that the forward PE is not 18, but 20. You just invent stuff to make the market look good. You are a foolish sap.
Say wha?: I didn’t make up anything. I just asked a question.
Ghost of Igloi: If you ask in a mature and respectful way, I might answer.
Say wha?: Fair enough. So why do you refer to 2016 data as “forward†earnings?
Ghost of Igloi: Ya sure. Sa Wha Eva ya Sa? Ya know?
Say wha?, Investment Advisor, and Earnie: Huh?
Ghost of Igloi: They're coming to take me away, ha ha, he he, hoo hoo...
Say wha?, Investment Advisor, and Earnie: We’re outta here.
Ghost of Igloi: ...To the funny farm where life is beautiful...
[‘Say wha?’, ‘Investment Advisor’, and ‘Earnie’ exit stage left followed by sound of door slamming shut. Curtain falls.]