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  • Be Prepared for S&P to Hit 350 by June 2010  [View article]
    Credit is decreasing we all know that very well, small business credit is decreasing very fast we know that too. However Advanta is no barometer of anything - it is a tiny company on the periphery, at beat another data point.

    On the S&P call, I am bearish but not to the extent of 350. I think earnings forecasts for S&P are dire - $46 for 2010 (Top down consensus operating earnings) - translates to a PE of about 20 - ridiculously high. 10x$46 would be 460.
    May 28 14:41 pm |Rating: +1 0 |Link to Comment
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