Quote of the Day: Better Earnings
Stephanie Pomboy of MacroMavens observes:
“Judging by the giddy delight investors have taken in ‘better’ earnings news over the last two weeks, we expect they will positively wet themselves when they get a load of the new saving stats. I mean the prospect that dis-saving was never as bad… and that current saving is even better … surely ranks as more compelling than having a handful of companies beat beaten-down expectations by a penny. Particularly when those beats were accompanied by NO…or uniformly grim…guidance and, in the case of financials, were achieved by dint of increased risk-taking.
Label me “prudish”, but beefing up prop trading and reducing loan loss provisions (precisely as the Alt-A/Option ARM reset wave begins and the Commercial Real Estate losses mount) doesn’t exactly blow my skirt up.”
Forget any concepts you have of mathematical certainty regarding more/less or better/worse. With Less Bad as the new Good, even “Better” has become a subjective measure.
Like Beauty, apparently, Good and Bad is now in the eye of the beholder . . .
August 6th, 2009 at 10:55 am
What if Wall Streets less bad is less than my less bad and less than your less? Should I invest More?
August 6th, 2009 at 11:08 am
I really like MacroMavens, btw. Good stuff. I like Stephanie’s moxie.
BR, you could also say:
“Like beauty, apparently, Good and Bad is now in the eye of the BAGHOLDER.”
August 6th, 2009 at 11:16 am
Very clever, I-Man.. and Stephanie does have the best way with words.. I don’t ever think I’ve been at odds with her, either. Although, sometimes I’ve lamented that she’s just stating the obvious, albeit better than anyone else.
August 6th, 2009 at 11:17 am
“giddy delight”…”wet themselves”…”blow my skirt up”…my goodness, I got a bit hot under the collar just reading Ms. Pomboy’s analysis.
August 6th, 2009 at 11:20 am
Yeah, Stephanie’s got something goin’ on. Photo here:
http://www.1440wallstreet.com/index.php/site/comments/stephanie_pomboy_sticks_a_stiletto_in_the_us_dollar/
August 6th, 2009 at 11:51 am
or, as we use to say the Corps, “looks like a 2-bagger night…”
August 6th, 2009 at 11:56 am
“Like Beauty, apparently, Good and Bad is now in the eye of the beholder . . .”
Kind of like Uncle Sam willing to commit $4,500 for each clunker???
August 6th, 2009 at 12:03 pm
“… Like Beauty, apparently, Good and Bad is now in the eye of the beholder . . .”
Yeah….. You’re probably too young to remember this…. People wore ” polyester leisure suits”, WHAT WAS I THINKING…..!!!!!??????
Eco
August 6th, 2009 at 12:05 pm
Oh, stop the press!!!
CNBC reports:
Abby Joseph Cohen: New Bull Market Has Begun; S&P 500 Should Be in 1050 to 1100 Range by Year-End (story developing)
BUY EVERYONE! BUY!
Long: Stephanie Pomboy
Short: Abby J. Cohen
August 6th, 2009 at 12:38 pm
There is no truth only perception.
“It’s important to choose not who you think is the prettiest girl, but who the judges think is the prettiest girl.” ~ John Maynard Keynes
August 6th, 2009 at 1:13 pm
I think Abby Joseph Cohen just rang the top bell. My conspiracy theory(not necessary to confirm the contrarian implications of her pronouncement) is that Goldman Sachs uses her as a secret messenger to the insiders to do the opposite of what she says, and this is a coded signal that Goldman is about to let the bottom drop out. This also gets Joe Retail to pick up the tab by acting as a pied piper for less savvy investors.
If we were to get to S&P 1050, it would be too easy, most would know to take profits.
Already 10% short, about to get more so. Hoping for more rally.
{posted on another thread originally.}
August 6th, 2009 at 1:28 pm
Thanks for the link TZ. Now I’d really like to see something (prudent risk management perhaps?) that would blow her skirt up:)