In my initial version of the stock market has a promising future behind it, I discussed some of the curiosities of the current bull market rally. A real head scratcher, revenues are down everywhere, no consumers in sight, and yet this rally is starting its eighth month.
Oh yea, I forgot. The ability for corporate CEO's to manipulate a company's stock price by underestimating revenue when queried by analysts and over reporting when reporting day comes.
Is this type of reporting truthful? Absolutely not. But there are always those people out there that will enable this practice to continue. Rationalize and justify the reasons why corporate CEO's must do this. John Wesley Hardin once killed a guy in his sleep for snoring, I suppose John like our current elitist CEO's-both achieved their purpose.
Like I said the first time around, I am absolutely aching to short this ridiculous rally. Just wait until companies must report next year, it makes you wonder what they are going to do for an encore when they won't have the benefit of slashing workforces and expenses.
Here's a link that describes the current foolishness best;