Benito Camela

Preview from Europe: Market Holds Up Well Despite Newsflow

The economy will have a small bounce, but the prospects are as ugly as ever. There is no sustainable source of demand to make it last.

I am not sure what are the equity guys smoking, but as at the end of 2007 they will find their match in the months ahead.

Forget about earnings, it is lower revenues that is screaming further reductions in earnings. Normalilzed PE ratios signal an S&P extremely expensive.