The Random Comic Strip

The Random Comic Strip

Words to live by...

"How beautiful it is to do nothing, and to rest afterward."

[Spanish Proverb]

Ius luxuriae publice datum est

(The right to looseness has been officially given)

"Everyone carries a part of society on his shoulders," wrote Ludwig von Mises, "no one is relieved of his share of responsibility by others. And no one can find a safe way for himself if society is sweeping towards destruction. Therefore everyone, in his own interest, must thrust himself vigorously into the intellectual battle."

Apparently, the crossword puzzle that disappeared from the blog, came back.


Friday, May 3, 2013

Mixed Messages


So, yesterday morning, I am looking at the headlines as Google News presents them and I see this series of headlines:
   
DETROIT | Thu May 2, 2013 7:39am EDT. DETROIT (Reuters) - General Motors Co posted a stronger-than-expected quarterly profit on Thursday as its North American business was better and its loss in Europe was smaller than Wall Street estimated.
GM earnings fall 11% on Europe losses - USA TodayUSA TODAY
GM net income falls 14 pct to $865 million in 1Q Boston.com
See realtime coverage »

If I just read headlines, I would be confused... Did GM do well? Or poorly? Could GM's earnings be strong and still fall 14%?

I suppose the Wizards of Wall Street can make sense of this. Of course, reading the story from Reuters, I come to realize that, even though it faltered, GM beat the rather dismal expectations of someone
, or some ones (never named), on "Wall Street".

And, I read this phrase/sentence:


Excluding one-time items, GM earned 67 cents, topping the analysts' estimate of 54 cents, according to a poll by Thomson Reuters I/B/E/S.

Revenue fell 2.4 percent from last year to $36.9 billion, and was just above the Wall Street target of $36.6 billion.


It's no wonder so many people rely on "experts" for investment advice. And it's no wonder why I do not.


1 comment:

Tom Sightings said...

It was Harry Truman (wasn't it?) who said something like: All my economists say, On the one hand on the other. So please, just give me a one-handed economist!

P.S. Glad you got home safe; I agree with you abt. the truckers.