Macy’s hid $154 million in expenses???

[] An employee was up to no good… [] [] [] Monday, November 25th [] ______________________________________________________ [] Behind every great fortune lies a great crime. -Honore de Balzac [] ______________________________________________________ [] Markets Today 🌏 Asia-Pacific: Mixed🇪🇺 Europe: Up 🇺🇸 United States: Up 🛢️ Oil: Up ⚡ Crypto: Up [] ______________________________________________________ [] Major Market Events • US Markets jump as positive response to President Trump’s nomination of hedge fund manager Scott Bessent for Treasury Secretary • Microstrategy stock purchases another staggering $5.4 billion in Bitcoin, as the BTC price continues to test the $100,000 mark • China signals support for Nvidia operations, and pledges to make things easier for foreign companies to operate [] ______________________________________________________ [] 🤔 My Thoughts In an emerging story, it looks like a corporate employee of Macy’s hid up to $154 million in expenses over the last 3 years. The reason is unclear - we could guess that the employee’s bonus or job performance was tied to keeping expenses low - and that’s a hard thing for retailers to do these days… Much easier to lie! Every big company will have a few rogue employees who are up to no good, but the fact that this happened for YEARS reflects extremely poorly on the famous retailer. So Macy’s is now delaying its third quarter results while they work to untangle this smoking hole in their accounting. This is obviously serious, and may very well constitute a crime, in addition to a massive failure in audits and accounting controls. I was surprised to see that Macy’s is still America’s largest department store… but that’s a title they may lose if this kind of mismanagement and misdeeds by employees continue. Kind of sad as the Macy’s Day parade is a longstanding Thanksgiving tradition, and will be overshadowed by this. But the bigger lesson is that you can’t always trust what big companies say and do, even if they’re well-known blue chips that have been around for many decades. And that’s why we continue to laugh about the “Efficient Markets Theory” which may look good in a textbook, but seldom seems to survive contact with the real world of messy motives. So we’re going to keep hunting for individual investments with high potential… and working to avoid the ones which are seriously mismanaged. [] To Better Trading, Alex Reid Wealthpin [] WealthPin [] Monday, November 25th [] ______________________________________________________ [] Behind every great fortune lies a great crime. -Honore de Balzac [] ______________________________________________________ [] Markets Today 🌏 Asia-Pacific: Mixed🇪🇺 Europe: Up 🇺🇸 United States: Up 🛢️ Oil: Up ⚡ Crypto: Up [] ______________________________________________________ [] Major Market Events - US Markets jump as positive response to President Trump’s nomination of hedge fund manager Scott Bessent for Treasury Secretary - Microstrategy stock purchases another staggering $5.4 billion in Bitcoin, as the BTC price continues to test the $100,000 mark - China signals support for Nvidia operations, and pledges to make things easier for foreign companies to operate [] ______________________________________________________ [] 🤔 My Thoughts In an emerging story, it looks like a corporate employee of Macy’s hid up to $154 million in expenses over the last 3 years. The reason is unclear - we could guess that the employee’s bonus or job performance was tied to keeping expenses low - and that’s a hard thing for retailers to do these days… Much easier to lie! Every big company will have a few rogue employees who are up to no good, but the fact that this happened for YEARS reflects extremely poorly on the famous retailer. So Macy’s is now delaying its third quarter results while they work to untangle this smoking hole in their accounting. This is obviously serious, and may very well constitute a crime, in addition to a massive failure in audits and accounting controls. I was surprised to see that Macy’s is still America’s largest department store… but that’s a title they may lose if this kind of mismanagement and misdeeds by employees continue. Kind of sad as the Macy’s Day parade is a longstanding Thanksgiving tradition, and will be overshadowed by this. But the bigger lesson is that you can’t always trust what big companies say and do, even if they’re well-known blue chips that have been around for many decades. And that’s why we continue to laugh about the “Efficient Markets Theory” which may look good in a textbook, but seldom seems to survive contact with the real world of messy motives. So we’re going to keep hunting for individual investments with high potential… and working to avoid the ones which are seriously mismanaged. [] To Better Trading, Alex Reid Wealthpin [] WealthPin [] A Wealthpin Publication ABOUT US: Wealthpin is a publishing and education company. We believe that the best manager of your money is YOU and we want to give you great research to help you do that. Our goal is to uncover cutting-edge investment ideas and share them with you in a way that’s clear and useful. Our investment research is typically focused on undervalued stocks, high dividends and major growth potential. DISCLAIMER: FOR INFORMATION PURPOSES ONLY. The materials presented from Wealthpin are for your informational purposes only. Neither Wealthpin nor its employees offer investment, legal or tax advice of any kind, and the analysis displayed with various tools does not constitute investment, legal or tax advice and should not be interpreted as such. Using the data and analysis contained in the materials for reasons other than the informational purposes intended is at the user’s own risk. DISCLAIMER: TRADE AT YOUR OWN RISK; TRADING INVOLVES RISK OF LOSS; SEEK PROFESSIONAL ADVICE. Wealthpin is not responsible for any losses that may occur from transactions effected based upon information or analysis contained in the presented. To the extent that you make use of the concepts with the presentation material, you are solely responsible for the applicable trading or investment decision. Trading activity, including options transactions, can involve the risk of loss, so use caution when entering any option transaction. You trade at your own risk, and it is recommended you consult with a financial advisor for investment, legal or tax advice relating to options transactions. Please visit for our full Terms and Conditions. [Unsubscribe]( This email was sent to {EMAIL} by Wealthpin 101 Marketside Ave, STE 404, PMB 318 | Ponte Vedra | FL | 32081 WealthPin [] A Wealthpin Publication ABOUT US: Wealthpin is a publishing and education company. We believe that the best manager of your money is YOU and we want to give you great research to help you do that. Our goal is to uncover cutting-edge investment ideas and share them with you in a way that’s clear and useful. Our investment research is typically focused on undervalued stocks, high dividends and major growth potential. DISCLAIMER: FOR INFORMATION PURPOSES ONLY. The materials presented from Wealthpin are for your informational purposes only. Neither Wealthpin nor its employees offer investment, legal or tax advice of any kind, and the analysis displayed with various tools does not constitute investment, legal or tax advice and should not be interpreted as such. Using the data and analysis contained in the materials for reasons other than the informational purposes intended is at the user’s own risk. DISCLAIMER: TRADE AT YOUR OWN RISK; TRADING INVOLVES RISK OF LOSS; SEEK PROFESSIONAL ADVICE. Wealthpin is not responsible for any losses that may occur from transactions effected based upon information or analysis contained in the presented. To the extent that you make use of the concepts with the presentation material, you are solely responsible for the applicable trading or investment decision. Trading activity, including options transactions, can involve the risk of loss, so use caution when entering any option transaction. You trade at your own risk, and it is recommended you consult with a financial advisor for investment, legal or tax advice relating to options transactions. Please visit for our full Terms and Conditions. [Unsubscribe]( This email was sent to {EMAIL} by Wealthpin 101 Marketside Ave, STE 404, PMB 318 | Ponte Vedra | FL | 32081 WealthPin