Earnings: The Next 12 Months? Or the Last 12?
June 30, 2008
Kevin S. Price submits:
As Barry Ritholtz noted over the weekend, certain media outlets seem determined to find reasons for optimism in equities’ recent breakdown. Not that there’s anything wrong with that. Who knows. Maybe these will turn out to be "attractive levels."
One of these efforts to find a glimmer of short-term hope–Greg Zuckerman’s weekend piece in the Wall Street Journal–revealed one of the stubborn realities of current market conditions.
Earnings: The Next 12 Months? Or the Last 12?
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