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Edmunds (via Dow Jones Newswires) estimates that the American new car market is down 28 percent in November, but up 1.9 percent from October.
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.