Fundamental Analysis » Listen to the Companies; not the Government Reports - Brunswick Corp (BC) & Smithfield Foods (SFD)

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Listen to the Companies; not the Government Reports - Brunswick Corp (BC) & Smithfield Foods (SFD)

I have no idea what the market will be doing today, this week, this month, or this year. I have been saying the real economy is in serious trouble, and that was an impression oil would be at $90-$110 or so. What we have now is ever more frightful. The market has been and continues to be in denial; I have pointed this out repeatedly even in the face of conventional wisdom as the market raced to new highs in fall 2007. I continue to stress most traders on Wall Street have been conditioned to corporate led recessions - not consumer led. This is the first consumer led recession since the late 70s/early 80s and it appears most market participants are not students of history. We still live in denial - only now in inflation. Inflation is a tax on all things - consumers and producers….
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