Here in America, the capitol of capitalism, Wall Street and the clowns that work there never fail to amaze me... Not because of their "smarts" but because of their asinine dumbness.
Today's news that Google... The "God" of the stock market posted a fourth quarter increase in profits of 17% seemed to me to be pretty impressive. Earnings were $4.43 a share... But guess what? The Armani suited, tasseled loafer wearing, MBA wielding analysts had been forecasting earnings of $4.44 a share. So Google missed it by one penny. Which in my book is pretty damn minuscule.
But hey, I'm not a Wall Street Wiz. So, in after hours trading, Google is down nearly $45 a share. That's nearly 8% of it's value. And just the other day I was reading that the reason these clowns still get the multi-million dollar end-of-year bonuses, is because their employers don't want to lose their expertise. Yeah... The same guys who lost them billions in the sub-prime fiasco. Isn't capitalism great?
George Parker
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Member since: 03 Jun 2008
Last login: 17 Nov 2009
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