_Hello Everyone – (RV mentioned at the end)
An email is making the rounds claiming that the scale of resignations in banking and finance is 100x greater than reported. It states that a search of the EDGAR database (for SEC filings) pulls up over 16000 filings since the start of 2012. (The EDGAR database contains real-time corporate filings required by the SEC - Securities Exchange Commission.).
The results in this email are misleading. I have just replicated the search in the EDGAR database and come up with info closer to what is reported in the news. The person searching EDGAR did not narrow the search to "banking", "finance", "insurance", etc. and simply searched all companies of any size and scale, including companies such as: “1 800 Flowers Com Inc” and “4th Grade Films Inc” , etc.
Read More Link On Right
_IMO, an increase in filings of leadership changes in corporations overall is not an indicator of the RV or geopolitical/financial changes. It more likely indicates that the economy is more volatile than the government reports.
Following are my search parameters and results. I searched for specific industries: “banking”, “finance”, “insurance” My searches were done on Friday, March 16, 2012, completed at around 1:51 pm EST.
Note that “5.02” is an SEC filing that include resignations AS WELL AS other changes in key leadership. Here is the description:
“Item 5.02: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers”
Search “8-K” = 16395 filings in 2012
Search “8-K AND 5.02” = 3468 filings in 2012
Search “8-K AND 5.02 AND bank” = 28 filings in 2012
Search “8-K AND 5.02 AND banking” = 4 filings in 2012 (just indicates that “bank” is the better search term)
Search “8-K AND 5.02 AND finance” = 18 filings in 2012
Search “8-K AND 5.02 AND insurance” = 17 filings in 2012
Now it may be that many resignations have happened that we don't see reported. IMO, that is likely the case. They may not have been filed yet, or are not in public companies regulated by the SEC, or are from roles not critical enough to be reported in EDGAR, and so on.
Frankly, I do not think we will see much evidence of the key resignations until the moment when the news comes out in the mainstream media. The simple reason is that such info would give everyone a “heads-up”. Which we all know is not what the folks driving this RV want.
I have said this many times before. The RV is coming, but not everything we see is the RV. Let’s keep it in perspective.
BTW . . . the above analysis is an example of how you have to think when it comes time to manage and invest your money from the RV. DO NOT try to make the results fit what you hope to hear. Be objective and tough in your scrutiny and acceptance of any statistics, claims or “facts”. Many people will give you partial statistics to build their business case. As you can see, this can be extremely misleading. Be on guard for this!
Have a great day!
And YES . . . I do believe the RV is on its way and we are in the home stretch. But it is called a “stretch” for a reason! LOL So just hang in there!