That was a pretty weak, disjointed post, Sal. Your examples don't fit what I think is your basic point: that it's hard to forecast earnings accurately. Moreover, your point is demonstratably untrue. Just look at how close consensus estimates come each quarter to getting it right for so many companies.
Also, on Micron, I, too, was around for that one. Contrary to your assertion that Micron's share price "fell [from 94 3/4] to around $70 before anyone had a clue to how was going on in their industry", that quick and steep drop was caused by the first indications of softening memory prices.
Finally, on USRX, there are ALWAYS fears that high growth expectations for a company will not be met. That's what help makes a market, after all. More important are the shifting dynamics between those "fears" and "expectations". |
