Agreed. Probably a Yahooligan, lying. Alternatively, it might be that WM management has decided to throw all the expenses they can into this quarter on the theory that given the current Street mania, higher net earnings wouldn't be appreciated, anyway. This seems to be a market for select industry categories without regard for company fundamentals.
Quarterly earnings expectations or no, WM is a company that now holds a dominant lending position in the West, is spreading East, has good and aggressive management, treats its shareholders fairly, and has an excellent track record. It should do very well when the market eventually comes to its senses. Maybe January?
Stream-of-consciousness related: Yesterday, I caught a snippet of some major fund (Magellan?) mid-manager on CNBC whining from the exchange floor about the advance-decline ratio trend and how much he wants value stocks to be properly appreciated by the market. Now, I don't disagree with his observations but just who does he think generates most of the buying interest? Mother Nature? Santa Claus? God? What a crock. It was as if he were shouting, "Stop me before I buy another money-losing Internut." |
