wheat, chaff - 9 jul 2003

no rock stuff or weird pics today. waxing economic. consider this a public service.

both these quotes are from well-known market commentators. one is straight talk. one is disingenuous, sociopathic horseshit from the distribution channel.

pundit # 1

"Clearly, the market is sniffing out better times ahead....In the spirit of fearless forecasting, I predict 4 percent real economic growth in 2004 and 2005, with double-digit corporate-profit gains for each year and only mild interest-rate increases. Stock markets will rise nearly 50 percent from current levels, and by the end of 2005 the market averages will be back to the prior peaks registered in early 2000."

pundit # 2

"Several months back, I stated that you could divide people into two camps: those who understood that we had a bubble and what it meant, and those who didnít. I believe the people in the former camp have a chance to succeed in the incredibly difficult environment coming up, and the people in the latter camp are headed for a tremendous amount of pain. On that score, I think that before it's safe to be long in any kind of size, the S&P 500 and the Dow Jones Industrials will probably be at least 30% or 40% lower from than where they are today."

you decide which is which. the hour groweth late, again.

wanna read some credible market commentary? start with fleck.

***


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