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Strategies & Market Trends : Roger's 1998 Short Picks
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To: Oeconomicus who wrote (9954)6/12/1998 9:08:00 AM
From: Joey Two-Cents  Read Replies (1) of 18691
 
<First Call has also cut its year-on-year earnings growth forecast for the Standard & Poor's 500 companies to 4.9 percent from a year ago, down from 5.3 percent last week>

I like all these "investment experts" getting paid millions with their ever changing earning targets and inability to see the forest from the trees. I heard one of these experts on CNBC this morning talking about the GM strike. He said the GM strike had already been priced into the the stock last week and that the recent decline was due to Asia. With GM hitting a 52 week high up 5% last week I'd like to know how it was priced in? Oh maybe it should have went up 20% on those bogus May numbers.

If this selloff continues, I'd like to see Mr. & Mrs. Mutual Fund in July when they're sitting around the breakfast table opening their Mutual fund statements:

Mr. MF: Honey! You gave me last years statement.

Mrs. MF: No dear, that came yesterday.

Mr MF: That's impossible! I've got less money now in this fund then I had last year.

Mrs MF: Maybe they made a mistake.

Mr. MF: They better have! This is a growth fund but I don't see it growing!

So the saga continues. Mr. & Mrs. Mutual Fund who had plan on taking a 125% home Equity Loan out to pay for "MICRO-softie" the Cashemere Beanie Baby going for the bargain price of $ 10,000 at "Fools R Us". They ponder the meaning of life and this recent set back, and wonder if the 30% returns they expected would make them Trillionaires (through the miracle of compounding) by age 65 would have to be lowered so they can only become billionaires.

Stay tuned...........
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