One day “they” say that the PC business is going gangbusters. Earnings are announced and drooled over. The ancillary businesses are doing well too and the PC complex proceeds to rally 10-30%.
Then, literally, in two weeks, the entire complex is downgraded and the PC business is in “dire straights”. Nobody will be buying PC’s, hard drives, video cards, keyboards, etc. because the only product selling is the iPad.
Do you believe these imbiciles? These are the sames folks that tell you not to buy high-yielding defensive stocks because there is “no growth”.
The structure of our economy is changing. The structure of the stock market is changing. We need to change the structure of the people who talk to investors. They need to be swept out like the over-the-hill Senior Congressman who have taken a few too many “travel junkets”.
Change is everywhere whether we like it or not. Let’s make sure change occurs where it is needed most.
BTW–don’t expect much from the FED. They will tell you lies with a straight face…
(Hat tip to Agnew and Safire)
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