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When You Take Things Too Literally...

Form Over Substance In investing as well as life in general, it helps to go for substance over form. In the case of Enron, they took form over substance to a whole 'nother level: “Say you have a dog, but you need to create a duck on the financial statements. Fortunately, there are specific accounting rules for what constitutes a duck: yellow feet, white covering, orange beak. So you take the dog and paint its feet yellow and its fur white and you paste an orange plastic beak