But the FASB ruled that they should be expensed immediately, because their future value is too subjective to judge reliably.

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There are just too many subjective judgements that have to be made to come to any conclusion, and as I point out in my piece, we are predisposed to forgive those deceivers that share our worldviews and punish those who do not.

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Of course, as a technical analyst, I would also argue that not only does fundamental analysis lag the price action, but too can be quite subjective.

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