For Publishers

The Opportunity

IBM: Numbers Don't Lie arrives at a moment when the American investing public is more exposed — and less informed about that exposure — than at any point since the dot-com bubble. Using IBM as its central case study, the book makes a single, urgent argument: when you read the financial filings instead of the analyst reports, the truth has been in plain sight for decades.

This is not a theoretical treatise. It is a forensic examination — structured in four acts plus appendices — that documents, with granular financial data and statistical proof, how an iconic American corporation's decline was visible in its own numbers while Wall Street maintained its buy ratings, boards signed off on strategy, and fiduciaries failed to exercise their duty.

The book is written by Raymond M. Mullaney, a 50-year veteran of quantitative finance, whose career has spanned founding an NASD broker-dealer, building proprietary risk measurement systems, and appearing on the front page of the New York Times warning about market risk before the 1987 crash.

Why This Book, Why Now

IBM was once the most trusted name in American technology — a blue-chip bellwether held by pension funds, endowments, and millions of individual investors. Over the past two decades, the company's revenue declined, its acquisitions failed to generate growth, and its stock underperformed dramatically. Yet at every stage, the sell-side analysts maintained their ratings, the board approved the strategy, and investment advisors continued to recommend the stock.

The financial data told a different story — one that was publicly available in every 10-K filing. IBM: Numbers Don't Lie reads those filings the way a forensic accountant would, and asks the question no one in the chain of responsibility was required to answer: what did the numbers actually say?

Request the Manuscript

To request galleys or a review copy, to discuss publication terms, or to inquire about serialization, excerpt, or translation rights, please contact the author directly:

Speaking Engagements & Press

Raymond Mullaney is available for speaking engagements at bar associations, investment advisor conferences, regulatory forums, and institutional fiduciary events. For press inquiries, interview requests, or to arrange a speaking engagement, please use the contact information above.