Strange Media Optimism
7/15/2005
News Flash: Optimistic Headlines Rampant on Bloomberg!
Every week, I look at the headlines on Bloomberg and think I'm seeing a preview of the leading weekly financial columnist's pessimism. And every week, I feel like Willie Sutton on hearing of Thomson's homer, ready to turn myself in at the nearest police station.
The usual:
- Stocks May Fall Next Week on Interest-Rate Woes
- Fund Flows out of US Highest in 7 Quarters on Twin Deficit Fears
- Expensing of Stock Options May Lead to Decline in US Profit Growth
- Buffett Sees No Stocks to Buy in US, Increases Bet Against Dollar
- Semiconducter Orders at Lowest Rate of Advance in Five Quarters
- SEC Actions Against US Executives Overshadow Profit Optimism
But this week, why it was like a page out of Success magazine. The first five headlines today:
- GE Profit Rises 24%, Most in Six Quarters, on Industrial Orders
- US Productivity Gain Most in a Year; Consumer Confidence Rises
- P&G Wins EU Approval to Buy Gillette
- Stocks in US Rise on Economic Reports
- Asian Stocks Have Biggest Weekly Rise This Year
Amazing. And what a mistake it would be think that bullish enthusiasm might not last for more than a few days, especially during the normal times that bears always make money, the summer doldrums.