"Corporate profits remain robust" WSJ 8/5/11, Profits at more than 80% of the S&P 500 are reporting strong quarterly profits and earnings are up by almost 15% verses last year. Now why was this not on the front page? The sky is not falling and the glass is more than half full!
I posted this on Facebook this morning, because just like the headlines in the paper (and yes fear sells papers) many of my friends appear to be full of doom and gloom based on a handfull of posts I've read, and really who can blame them? And yet here is this article and many other articles if you search hard enough that talk about the positive aspect of today's market. Interest rates are at record lows, Investment opportunities are abundant, and if you look at various charts in the financials it appears rather obvious that what we are seeing on the aggregate level is a mild to moderate correction. Moreover when you look at P/E ratios the situation is even more encouraging. I say we pour out the cool-aide, turn off the TV, get out and enjoy the rest of our beautiful summer here in the Pacific and Rocky Mountain Northwest, while remaining confident that indeed the sky will not be falling anytime soon.
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