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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:

  1. Stocks May Fall Next Week on Interest-Rate Woes
  2. Fund Flows out of US Highest in 7 Quarters on Twin Deficit Fears
  3. Expensing of Stock Options May Lead to Decline in US Profit Growth
  4. Buffett Sees No Stocks to Buy in US, Increases Bet Against Dollar
  5. Semiconducter Orders at Lowest Rate of Advance in Five Quarters
  6. 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:

  1. GE Profit Rises 24%, Most in Six Quarters, on Industrial Orders
  2. US Productivity Gain Most in a Year; Consumer Confidence Rises
  3. P&G Wins EU Approval to Buy Gillette
  4. Stocks in US Rise on Economic Reports
  5. 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.

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