Thursday, January 8, 2009

Well It's Official

Walmart lowers its earnings estimate for the January quarter despite being the clear winner in the just ended holiday season.

If Walmart missed, everybody missed. Below here I described this as the least important earnings season in recent memory. It may become less so if the market goes into "free pass" mode. Money will rotate out of low-yielding treasuries at some point, probably soon. Let's see where it goes.

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