Absolutely unreliable
Already more than half a year, many analysts to start on the stock exchanges and advised on the record lows in the KGVs noted. The Global Performance on the other hand, we repeatedly warned against such recommendations. Given the desperate economic conditions was already clear that the profit forecasts too optimistic and thus also failed to share valuations were far less attractive. Our warnings have been proved to be absolutely justified.
To calculated the financial experts of the year for the fourth quarter in the S & P 500 even with a rise in operating profit of six percent over the previous year. After more than 90 percent of the data are available, but is characterized by a sudden drop from 65 to 70 percent. Based on the real balance sheet figures – ie involving arbitrarily by the company president as a one-time expenses classified items – is even a loss of approximately twelve dollars per S & P 500-share. The profitability of U.S. companies is as bad as ever. Similarly, the development of rotten in the DAX from corporations. Although only just under half of the members of their index numbers for the fourth quarter. It looks but then, as it would under the dash also red numbers. Recently, there was in the fourth quarter of 2002, when the German leading up to 2200 points had fallen.
To calculated the financial experts of the year for the fourth quarter in the S & P 500 even with a rise in operating profit of six percent over the previous year. After more than 90 percent of the data are available, but is characterized by a sudden drop from 65 to 70 percent. Based on the real balance sheet figures – ie involving arbitrarily by the company president as a one-time expenses classified items – is even a loss of approximately twelve dollars per S & P 500-share. The profitability of U.S. companies is as bad as ever. Similarly, the development of rotten in the DAX from corporations. Although only just under half of the members of their index numbers for the fourth quarter. It looks but then, as it would under the dash also red numbers. Recently, there was in the fourth quarter of 2002, when the German leading up to 2200 points had fallen.
And the prospects are not exactly edifying. An economic turnaround has not yet. For the first half of 2009, the company figures also fail miserably. Already in issue 47/2008, we had expressed our apprehension that the DAX companies with the 2009 line even cumulative losses incurred. An evaluation is then P / E is no longer possible.