One obvious question is: what is the practical use of IA? As is easily learned, this economy and bull market were powered by GE, KO, G, MRK, autos, banks pumped up by the Fed, and the like. INTC free cash flow is small and not growing much in last couple of years, MSFT is still a small Co, in real world, 1/3 of even Chrysler sales, IBM's book value actually went down in last 15 years, inflation notwithstanding. So far, it's been all hipe and hope for future uses. For every form that an accountant can fill out on a computer, goverment made new forms and more complex rules that actually increased the required paperwork. Layers prolifirate.
Joe |
