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| | |-+  Shedllock: Overly optimistic consensus again plays greater fools' game		 « previous next »
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Author Topic: Shedllock: Overly optimistic consensus again plays greater fools' game  (Read 74 times)
picasso moon
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« on: October 10, 2009, 08:50:20 PM »
http://globaleconomicanalysis.blogspot.com/2009/10/overly-optimistic-consensus-plays.html
.. Plays Greater Fools' Game Once Again, 19/8/09. Long quote from Rosenberg, who notes P/E using reported earnings is up to 140X, 3 times larger than at the height of the tech bubble. Mish follows with comments as to how the rally has the look and feel of 1930, he states that earnings estimates are ridiculously high and loan loss reserves of commercial real estate, credit cards, walk-aways, foreclosures,.. are grossly inadequate.
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