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alstry (35.90)

How corrupt is Wall Street and Economists???

Recs

14

July 27, 2009 – Comments (3)

You hear green shoots and postive waves coming out of most economists and anlaysts on Wall Street which is being supported by the financial media including the likes of Larry Loverboy Kudlow.....

yet, we hear executive after executive making comments like these recently:

"Our sales and earnings declined from our record second quarter 2008 results and were lower than we expected just three months ago," Crane President and CEO Eric Fast said.  The company cut its full-year 2009 per-share earnings forecast to $2.01 from $2.31, citing "difficult" market conditions...

You rarely hear an executve spout a single utterence about things turning around, sales improving, or a positive outlook....in any industry that is not a direct seller to government such as health care or defense.

But practically every economist and analyst are boasting about a recovery????

Can anyone explain this seemingly mathematically improbable situation if it were simply the random perspectives of a group of individuals in light of the facts as we know them????

3 Comments – Post Your Own

#1) On July 27, 2009 at 7:24 PM, AdirondackFund (< 20) wrote:

It is the 'new math' Alstry.  Today's top performer in the S&P 500 was NYT (The New York Times), an insolvent company by a 2:1 margin, and which rose 15% today on the good news.

 

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#2) On July 27, 2009 at 7:25 PM, fmahnke (96.45) wrote:

Hey Alstry,

At the risk of sounding like you, I think if your specifically reffering to CNBC, its a conspiracy theory, which I think also extends to the broader media,

The bears (Roubini, Schiff, the Black Swan, Chanos etc) are out there but juat don't get equal time.  They've also been toned down by the fact that recently, they have been wrong.  

I don't know about the 9 09 stuff, but ultimately the economy will be proven to be much weaker than today's popular discussion.  My guess is that this won't happen until well after 09 09 and people will say your wrong despite the fact that most of what you write is right.    

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#3) On July 27, 2009 at 7:52 PM, Varchild2008 (84.35) wrote:

(MSM)  + (FLIR)  both came out saying they don't expect things to improve in the near term.

I traded out of MSM.... But hold a small 120 share stake in FLIR.

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