He who wishes to deceive will never fail to find willing dupes
Niccolo Machiavelli
If the average stock market analyst
forecasted first quarter 2009 earnings to increase 25.7% in October 2008
and re-estimated views to -12.5% on January 1, 2009
which fell to -34.1% in March (IBD, March 13, 2009)
why would some (Barrons, March 9, 2009)
suggest expected operating earnings
reflect evidence of an inexpensive market
instead of historically appropriate as reported GAAP earnings
which may indicate the market is relatively overvalued?
Why would some highlight dissimilar calculations of corporate earnings?
Is there a correlation between behavior
and information consumption?
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