Today, the Dow rallied and rose 240 points on the back of news from BoA that they will be profitable this year and GE may not need the government bail-out afterall....
Is the rise sustainable? Are we over the hurdle?
Are people happy with job losses and are still spending? Is consumer spending stable and looking on an uptrend?
Or is it because we have just put a screen over ourselves again and eased accounting rules?
Are we just fooling ourselves into another patch of financial accounting ingenuity?
Fundamentally I think most companies aren't making money from core operations and a significant chunk of profitability from yesteryears could be from financial engineering....
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment