Wednesday, March 04, 2009

Profit And Earning Ratios?

Obama further expounded on the sobering voice of Mr. Market yesterday: "[W]hat you're now seeing is profit and earning ratios are starting to get to the point where buying stocks is a potentially good deal if you've got a long-term perspective on it."

Profit and earning ratios? Along with Jim Geraghty, we begin to suspect that Obama, even if he is a good talker, doesn't quite know what he's talking about. Without speculating on his possible lack of knowledge regarding the market, however, we can say with some certainty that when it comes to the sobering voice of Mr. Market, Obama is not a good listener. Not yet anyway.