December 27, 2007
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So, how do you ruin a good name? Well in John Crapper's case he invented a toilet...
It seems this subprime mess has now been code named Norma...
My poor sister. I think Merrill or Prince might be more deserving.
Hard landing recession, arguments by Nouriel Roubini.
I just can't write more blogs, I've done so many this month. Here's another article, 3rd quarter earnings were down 4.6% from a year earlier.
So, I went back to look at where the S&P was at the end of the third quarter last year and it was at 1339, so currently it is at 1483, which makes it 10.8% above what it was last year yet, yet now earnings are down 4.6% from what they were.
Should that mean the market goes down 4.6%? That would put relative valuation at 1277 based on performance.