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Strategies & Market Trends : Sharck Soup
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To: American Spirit who wrote (22615)5/13/2001 8:12:43 PM
From: velociraptor_  Read Replies (2) of 37746
 
Who said anything about the past? I'm talking about now. And if you're trying to twist the fact that they are beating lowered estimates as good news, than you're blindly pricing in a fantasy as well. Fact is, the estimates are lowered because they're not making as much money. That's the bottom line and it's irrelevant whether they beat these estimates or not. They are still making less money. Tell me one thing that is good about this and why companies deserve to have lofty valuations for making less money, just because they beat a lousy estimate. The bubble is re-inflating because it takes less to get there due to poor economic conditions. Unless the economy starts buzzing along faster than it did before and earnings pick up the Naz at 2500 is at least as equivalent to the Naz over 5000 back in January 2000. And all signs are pointing to stagnation right now, not an increase in profits.

But hey, let's lower those estimates again for next quarter so companies can beat them again and give the false illusion that things are going great. Who cares about the past? Who cares about the future? Who cares what those estimates are based on and where they were last time, as long as they beat them. I don't think the sky is falling, but at the same time I am not going to put dogsh*t on a pedestal and call it art. It's all about calling a spade a spade, and not trying to convince everyone you have the Ace when you're holding the joker.
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