Author: Joel Litman, DailyWealth.com

It’s one of the largest companies and best-performing stocks in the world today. It’s also one of the most powerful accounting dislocations we’ve ever uncovered. Not only that, but thanks to his billion-dollar bet on the stock, we can definitively say that Warren Buffett agrees with us.

It has already gotten cut in half, but the market is still too optimistic about it today.

The company has been churning out profits… yet most investors don’t see this because they’ve been misled by bad accounting policies. In short, take the stock’s recent price drop as an opportunity in a company that Wall Street doesn’t understand.

In short, the market needs to continue to rise in order to correctly price reality. Far from shrinking, corporate profitability is higher than ever. And that means this bull market will likely continue.