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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: John Vosilla who wrote (48284)	12/28/2005 12:01:30 PM
From: Wyätt Gwyön	Read Replies (1) \| Respond to of 110194

yes, my question was rhetorical as the obvious answer is pro forma fantasy earnings. it just amazes me that investors continue to buy into this crap after all these years. one quarter, two quarters, you can understand. but when a company claims to earn $17 BILLION over 10 YEARS, but only has a book value of less than $6 billion, it just boggles the mind that the company is afforded a premium valuation. otoh, i am very thankful that there are so many idiots on wall street, without whom the individual investor could not outperform the market.