Commentators

Given that the news and earnings will always be good, and that commentators will always be the most positive near market tops, it will be increasingly important for investors not just to listen to the news but to interpret the news correctly and to constantly move ahead of the crowd. Brokerage stocks for example, we all know that there is plenty of “excess liquidity” around and that brokerage firms are enjoying record profits. In 1982, Merrill Lynch’s shares sold for less than $ 2 and then rose to $ 80 in early 2001 before collapsing to less than $ 30 at its October 2002 low. Since then the stock has risen to over $ 98 in mid January 2007 before declining to $ 89 currently.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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