Comments on: On the Cusp of a Fascinating Earnings Season http://www.ritholtz.com/blog/2009/10/on-the-cusp-of-a-fascinating-earnings-season/ Macro Perspective on the Capital Markets, Economy, Geopolitics, Technology, and Digital Media Tue, 14 Feb 2012 23:06:20 +0000 hourly 1 http://wordpress.org/?v=3.0.5 By: Market Talk » Blog Archive » Earnings Look Good, But Do They Look Good Enough? http://www.ritholtz.com/blog/2009/10/on-the-cusp-of-a-fascinating-earnings-season/comment-page-1/#comment-225184 Market Talk » Blog Archive » Earnings Look Good, But Do They Look Good Enough? Tue, 13 Oct 2009 16:14:20 +0000 http://www.ritholtz.com/blog/?p=41030#comment-225184 [...] in determining whether “a correction or worse might be in the offing,” Jack McHugh writes at The Big Picture. “If we can pay attention to the market reactions on a micro level, they [...] [...] in determining whether “a correction or worse might be in the offing,” Jack McHugh writes at The Big Picture. “If we can pay attention to the market reactions on a micro level, they [...]

]]> By: leftback http://www.ritholtz.com/blog/2009/10/on-the-cusp-of-a-fascinating-earnings-season/comment-page-1/#comment-225156 leftback Tue, 13 Oct 2009 15:19:18 +0000 http://www.ritholtz.com/blog/?p=41030#comment-225156 It's all a bit squishy really, isn't it? Bankrupt companies and companies with no earnings all have been rallying, under the influence of hot money, and commodity stocks are on fire trying to fight as yet non-existent inflation. The whole rally since SPX 880 has been a massive dollar carry trade, and eventually carry trades unwind. You have opined before, Jack, that earnings season often starts well and then fades, and you can imagine decent earnings from some of the industrial exporters (on the weak dollar) and weaker performance from the retailers at the end. As always, the wild card is the banks, how much trading income they made, and how much they are allowed to lie under the Mark-to-Fantasy rules presently in effect and marking "Legacy Loans" at 100c/$1.00. How long is Pinocchio's nose? Mr Dimon and Mr Blankfein will reveal all to us very soon. It’s all a bit squishy really, isn’t it? Bankrupt companies and companies with no earnings all have been rallying, under the influence of hot money, and commodity stocks are on fire trying to fight as yet non-existent inflation. The whole rally since SPX 880 has been a massive dollar carry trade, and eventually carry trades unwind.

You have opined before, Jack, that earnings season often starts well and then fades, and you can imagine decent earnings from some of the industrial exporters (on the weak dollar) and weaker performance from the retailers at the end. As always, the wild card is the banks, how much trading income they made, and how much they are allowed to lie under the Mark-to-Fantasy rules presently in effect and marking “Legacy Loans” at 100c/$1.00.

How long is Pinocchio’s nose? Mr Dimon and Mr Blankfein will reveal all to us very soon.

]]> By: Simon http://www.ritholtz.com/blog/2009/10/on-the-cusp-of-a-fascinating-earnings-season/comment-page-1/#comment-225061 Simon Tue, 13 Oct 2009 07:38:25 +0000 http://www.ritholtz.com/blog/?p=41030#comment-225061 Having read The Intelligent Investor and Interpretation of Financial Statements I'm ready to approach Securities Analyses. Hopefully I will be ready to look again at the possibilities that securities might hold some time in the first quarter next year. I guess I'm also hoping Mr Market will be feeling more anxious around then. Having read The Intelligent Investor and Interpretation of Financial Statements I’m ready to approach Securities Analyses. Hopefully I will be ready to look again at the possibilities that securities might hold some time in the first quarter next year. I guess I’m also hoping Mr Market will be feeling more anxious around then.

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