Our money maverick dives into Scientology's latest financial house of horrors - 2016-06-16
This week, documents became available that had been submitted by Narconon Holland, the Scientology drug rehab center in the Netherlands. At a quick glance, they indicated that the place was in serious trouble. And now, Underground Bunker regular "John P." — who enjoys telling us about his luxurious life in high finance — has broken down those documents in more detail, as only he can. For our newer readers, you will sense that John P. is having fun with his reports about himself, but when he dives into a financial report like this, he's all business. We hope you enjoy his analysis...
School's out, and at Global Capitalism HQ, that means one thing: lots of cheap, talented and well-meaning but inept interns to burden with menial tasks. I'm not one of those cruel, sadistic traders who sends an intern out to stand in the hot sun for hours to be first in line at Shake Shack to put in their lunch orders. Instead, I assign Harvard and Yale B-students intellectually tedious research that most people wouldn't assign to high school kids. At least, people wouldn't assign this stuff to any high school students they actually liked.
I turned two of the interns loose with Google Translate and a spreadsheet to translate everything as best they could and to do some simplistic analysis on the Dutch Narconon financial statements. I took their best effort, fixed their charmingly naïve mistakes, and then did some real analysis.