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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: ild who wrote (226067)3/7/2003 8:39:46 AM
From: reaper  Read Replies (2) of 436258
 
well, it depends what you call "real". i mean, its not like the upside that is being garned by P&G, J&J, 3M, or even Intel isn't 'real'. its just that it is non-repeatable (unless of course you think the Euro is going to go up ANOTHER 10% NEXT year (which of course it may)).

the larger point is that you have to put companies' earnings in the context of the currency shifts; i.e. for anybody thinking that Intel, with flat yr-yr revenue, is doing OK (i.e. 'scraping along the bottom' or whatever euphamism you would card to use) that is simply not true; on an apples to apples basis business is still getting WORSE.

now, i'm sure KT or Joan could help you out with some CEFs that would benefit from the dollar depreciation; i have sadly missed out entirely on that play.

Cheers
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