The Web Site of Victor Niederhoffer & Laurel Kenner
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Art Cooper: The Spec Duo's Columns on Cash Receipts as Determinant of Stock Price Performance
I'm sure the study by Criterion Research Group reported on p C3 of today's WSJ ("Accrual Accounting Can Be Costly") will be of interest to the Spec Duo, esp. as it relates to their studies of such things as tax payments as a reliable guide to future stock performance (more so than reported earnings).
The study found that companies that use more accruals underperform companies with fewer accruals. Those using the most accruals had poorer forward earnings and stock returns and more earnings restatements and SEC enforcement actions.
Companies currently in the highest-accrual category include Chiron, Ebay, GM, Halliburton and Yahoo.