When a tech bellweather such as Cisco Systems (CSCO) not only has little effect on the broader market but even TECH stocks, you are in some amazing conditions. I said it would be abnormal for yesterday to mimic today, but indeed abnormal is the new normal.
Side note - I had no idea how dependent CSCO was on government expenditures (most of its shortfall was from state government spending it appears). Says a lot about the state of the economy when government spending is such an important source of income for even the biggest of companies.
Best Of FMMF
- 1: Warren Buffet Piles on Europe
- 2: [Video] Jim Chanos Returns from Europe, Even More Bearish on China
- 3: A Chart to Open Our Eyes - Staggering Changes by Multinationals in Employment Behavior 00s vs 90s
- 4: Futures Blasted on Dexia Woes... and Poor Preliminary China Data
- 5: Market Working to Worst Thanksgiving Since 1932
- 6: Et Tu, German Bonds? Poor Auction Raises Eyebrows