Bethany McLean

speaker

391 appearances 2 recordings 1 series first heard Jul 2026 last heard 2 Aug

Bethany McLean’s voice in public audio — every appearance, attributed to the second.

Trend

recordings per month · last 12 months

Recordings per month over the last 12 months — 2 in all, peaking in Aug 2026 with 1.

newest first · ▶ plays the moment

This must be a bad sign.

But then year after year, the red flag doesn't materialize and the stock keeps going up.

And so you start to think, well, I must be crazy.

And so you start to dismiss these red flags in a raging bull market because they don't matter until they do.

Yeah, so it's everything from odd disconnects in the financial statements.

I mean, in Enron's case, looking back, it was just laughably simple because no one actually understood how they made money.

And if you asked people who were raging bulls on the stock, how does this company make its money?

One person actually laughed and said to me, I don't know.

If you figure it out, let me know.

We don't have to worry about it.

These are just the best, smartest guys in the room.

And you always know that the bottom line is going to be what they say it's going to be.

So who really cares about the details?

So I think that's one thing is when people don't really understand the company's business.

Another is just grungy clues in the financial statements.

You know, if you have a big...

You can't do it if you own an index fund.

You can't do it if you have a gigantic investment portfolio.

But if you have a concentrated bet in a certain company, you should be familiar with every aspect of their financial statements.

You should have seen the risk factors.

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