Joined: 13/Feb/2008
Location: United Kingdom
Online Status: Offline
Posts: 626
Posted: 10/Oct/2008 at 7:28pm
Originally posted by shivkumar
Udayan is the guy who said in January that he'd put half his money on stocks if his employers allowed him to. Now again he is flowing the with the tide.
I am not defending him, but at that time everybody was thinking that the fall was temporary and just a correction... Even on TED members were recommending "safe" stocks with strong earnings visibility and trading at just 10-15 times FYXX Earnings....
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The more it changes, the more it’s the same thing.
Most of what he's saying is in line with the macro trend. His take on corpoarte earnings, "While GDP growth will fall, I think the pace at which earnings might fall could be even more dramatic than GDP growth"
It looks generalistic in nature - i don't think we can broad-brush it, level of impact on earnings is a stock-specific call. But what is obvious is high PE stocks offering low margin of safety will come out heavily bruised out of this run.
Someone’s sitting in shade today because someone planted a tree long time ago.
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