AJB7

Be Prepared for S&P to Hit 350 by June 2010

Ryan, My take on your analysis that you're probably reversing cause and effect here. Advanta going out of business is not going to cause small businesses going out of business, since it was small businesses going out of business that probably caused Advanta going out of business. If that is true, Advanta will not appreciably effect much in the future since the small businesses going out of business are already going out of business no matter what Advanta does, and the ones that were not going out of business have or will have other sources of credit.

Also, in my opinion, the call that the SP is going to 350 based on this analysis is just too "out of the hat" since it implies that the SP will be trading a something like five times earnings. Now we all like to bash analysts' consensus earnings as too optimistic, but man, you've set a record here. You sound like Joe Granville. And if you're old enough to know who that is, you're old enough to be wise enough to make money by listening to the market rather than telling the market where it has to go.