Manufactured fraud called the US stock “market”:
By Daniel at 27 October, 2009, 10:03 am
“posted lower profit and revenue, but the stock gained 5% on an increased outlook”
“saw profits decline a less than anticipated 72%, pushing the stock 8% higher”
“posted a 34% drop in profit that topped estimates”
“revenues were $1.14B, down 29%, but beat the average analyst estimate, driving the stock 12% higher”
“analysts expected a 92% drop in profit, but the company surprised investors with a decline of only 81%, sending the stock soaring in pre-market trade”
So, let’s cut to the chase….If a company remains solvent, even just barely, they will “beat.” The only way to miss in this environment is to file for bankruptcy, which can’t “top expectations,” although you could argue that Chapter 7 is “better than” Chapter 11…
Never in my 30+ years of investing have I seen such a flagrant display of rigged “estimates” and “expectations.” Not even during the internet boom did companies “beat” in this number, or by this margin.
Things are SO perfect, that it’s actually worrisome…If they have to put up this kind of facade, what’s behind all of it?
- RC
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