Monday, July 31, 2006

Our strong economy

Solid analysis from Michael Darda.

Every day I check the WSJ for P/Es on the major indexes. They keep getting better and better. And estimated forward P/Es are even better. Not only that, each earnings season keeps presenting more upside surprises than down. Which means that the estimates, as strong as they are, are not optimistic enough to match the strength of the reality.


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