
Know the Score With Currency Gains

By Jim Cramer
About this article:
Currency gains have always eluded Wall Street. Now, since Regulation Full Disclosure, more than ever.
Wall Street has static models. They are made right after a company's earnings call -- according to the old, pre-Reg FD model. That means that if something major happens intraquarter, it is no longer factored in because it can't be. The analysts aren't sure of currency gains and they don't want to impute them on their own.
So, you get the anomaly of, say, an International Flavors & Fragrances, which I opined about in the Answers section on Stockpickr. (I like that part of that site so much that I sat down with James Altucher to answer more questions on video. Click here to watch it.)
IF&F has much more than the average currency sensitivity. If you look at its earnings release from this morning, you will see that the currency gains were behind...

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