Investors have panicked, sending the Dow Jones industrial average down more than 5,000 points from its peak in October 2007
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Our market opened higher on the back of a strong Wall Street, with the Dow Jones breaking the 9000 mark for the first time in a little while
These markets are making it difficult to gauge how much to read into management comments because clearly they're dealing with unprecedented change in fundamentals. It's hard to take their word on their outlook
When you look at the fundamentals of equities around the world stocks are selling for very cheap prices ... Behaviorally people project today's current bad news much further out into the future than they should.
We're making slow progress and confidence is returning but we're still not there yet
Even if it weren't for the credit crisis we'd probably be looking toward a pretty tough recession anyway ... The third-quarter earnings are kind of uninspiring but third quarter hasn't been the real concern of people. I think the concern is the depth and duration of the downturn and the effect it's going to have on earnings.