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December 3, 2022

Short Sellers, Moms, Son of God, all Credited with Encouraging PwC’s Vigorous Audit of Herbalife

For an analyst, it doesn't seem this guy understands how audits work:

In the wake of Herbalife's clean bill of health from its new auditors, one of the company’s most bullish analysts is taking a victory lap.

“We’d like to thank Mom, Jesus, and the short sellers,” D.A. Davidson analyst Tim Ramey wrote to clients Tuesday. “By throwing down the gauntlet to the degree that they did – daring PwC to render a clean audit – they elevated the level of scrutiny to a level heretofore unheard of.

“In our opinion, this has paved the way for Herbalife to have a growth stock valuation. We believe the amount of world-class research conducted by the long-holders of Herbalife has scrubbed the model.”

Those are some big words, my friend. Jesus? Seriously? Trust me, that guy hasn't participated in an audit since he threw everyone off by feeding 5,000 people with five loaves and two fish. But hey, when in doubt, pray I guess.

I would be curious what level of scrutiny Herbalife received that other PwC audit clients don't.  Does this mean without divine intervention they do mostly meh audits but once the gauntlet of God comes down upon them, the skies open up, the workpapers are carved in stone tablet and the partner declares a clean audit from atop Mount Sinai?

You're being dramatic, pal.

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