Friday, August 22, 2008

"Analyst Accuracy" Should be an OxyMoron

Just saw this at Bloomberg, Analysts' Accuracy Forecasting U.S. Profits Worst in 16 Years

By Lynn Thomasson. As most of us are aware, Bloomberg does not function as a charity organization, every message it sends holds some form of purpose. Obviously this article was meant to discredit those who correctly forecasted the economic downturn that America has embarked upon.

It's gonna get worse, a whole lot worse, as over $200B worth of Fannie and Freddie bonds are due to mature next month and they are very broke. Don't just take my word for it, Mike Shedlock elaborates on this along with warnings of several other companies to short, or at least not long.

Brace yourselves!

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