"Wall Street always takes up their numbers right before they're about to fall off a cliff," McCullough explains. “This really shows the difference between what we do and what we’re seeing, versus what they say and what they do."
Meanwhile, shameless CEOs like John Idol of Capri (CPRI), are restructuring compensation agreements to get paid big, while everyday Americans struggle.
“You’ve got to really be careful about watching management’s behavior and what they’re doing in order to keep numbers optically high, which just happens to be at the same time we're stepping into the throes of a really bad sales environment,” says McGough.
“There’s the state, there are the elites, and there’s everyone else. We've got to get through that," McCullough concludes.
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