Services | Behind the Numbers: Quality of Earnings Warnings and Sell Recommendations

Behind the Numbers provides its subscribers a wide breadth of industry coverage, including Industrials, Financial Services, Homebuilders, Health Care, Retail, Consumer Products, and Technology. Clients receive emails when new issues, such as Warnings or Live Updates are available on our website, with bullet-point summaries of our thesis for each company. All of our reports are published in PDF format, and clients have the ability to search our entire database of current and past reports.

BTN SUBSCRIPTION:

• BTN Warnings – An issue is published monthly and typically includes reports on 4 new companies. Occasionally, significant Updates on existing Warnings may be included in a new issue as well.

• BTN Live Updates – a means for the timely dissemination of updates on the companies we follow. Live Updates are published on our website when events dictate (earnings surprises, insights into SEC filings, etc.). Clients are notified via email when a Live Update is published.

• BTN Large Cap Dividend Sustainability Report – uses our quality-of-earnings accounting techniques to examine the sustainability and growth of dividends for large cap stocks. This product will address this topic on an industry basis, will rank companies, and recommend swaps to improve income and safety for investors.

• BTN Accounting Insight – periodic reports that keep clients abreast of emerging accounting topics, aggressive accounting tactics, and analytical tools that assess their impact on financial statements, and identify companies for further study.

• BTN Large Cap Accounting Review – A review of SEC documents for accounting issues, lack of sustainability for results, and various contingencies that allows investors who own or may buy these stocks to get up to speed on the risks quickly. These are not sell recommendations and companies make this list more by market cap and widespread ownership than by the number of issues to discuss as is the case with standard BTN reports. We update these risks quarterly. Stocks with significant issues may also become standard BTN reports with a sell recommendation.

• BTN Watch List – a subset of our warnings about which we feel an even greater level of concern, grouped into short and long term warnings. Short-term warnings include companies that we believe to have an identifiable catalyst for a company’s underperformance within the next year. Long-term warnings include companies that face eroding businesses which may lead to significant underperformance beyond one year.

• BTN Short Notes – Published monthly, we highlight stocks in our coverage universe that we believe represent the most timely short candidates with well-defined catalysts.

• BTN Thursday’s Thoughts – Published weekly, an informal commentary that includes news/analysis on BTN stocks, articles that we find insightful, and our general market thoughts.

• BTN Portfolio Alert System – alerts users when BTN publishes a warning/update on stocks they choose to monitor.