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Politics : Idea Of The Day
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To: IQBAL LATIF who wrote (48455)5/8/2005 4:10:09 AM
From: IQBAL LATIF  Read Replies (1) of 50167
 
Idea Of The Day - "Things do happen that change the landscape dramatically. (Gives examples of Long-Term Capital Management crisis in 1998 and speedy narrowing of junk-bond spreads a couple of years ago)...We've seen baby versions of this. And subsequently something has happened.Corporate profits as a percentage of GDP are at an all-time high...if I had to bet, they'd be lower in the future...It's nothing to be bullish about, because we expect a reversion to the mean." Buffett
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