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RE: TIB: Today I Bought (and Sold) - An Investors Journal #396 - HR Services, Amsterdam Index, US Homebuilders, Australian Dollar
I am surprised that investors are concerned on stock prices adter the sharp recovery we have seen and the uncertainties that remain. We have the Fed that seems to have given a put option to investors and while corporate profits may decrease, the fact is that they remain generating positive cash flows and returning capital. I feel that there is still something missing though but not sure what!
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The last crash smashed investor psychology. The worst days are when there is no data and only opinions.
I watched the presentation by the IMF Chief Economist talking about the growth forecasts. My thought was she was not old enough to know a good forecast from a bad one. She is still working from the university textbooks. And that is what people have to listen to.
Tony Dwyer did a segment this week talking about earnings revisions. and actual results. His view is that the data will surprise as earnings work their way through and estimates will be raised during the cycle. Here is the link which will start when he discusses earnings