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« United Parcel Service and the Ten Billion Dollar Economist | Main | FedEx Corp and the Billion Dollar Report »

July 27, 2006



Barry -- I'm not referring to sentiment here, at least not in the sense you measure it. I am talking about people like you and me doing our jobs -- that means actually listening to the conference calls or reading transcripts. The problem is that many people shoot from the hip based upon someone else's summary. Some firms downgraded UPS before the opening, so they could get the $80 price on the report, even though their customers could not sell at that price.

I have watched CEO interviews and read analyst reports and listened to conference calls for 20 years. I have NEVER seen such skepticism by those responsible for other people's money. We should be doing our best to find the facts. It is both reckless and foolish to assume that analysts and executives are always lying. It is also a money-losing strategy.

Barry Ritholtz

You say skepticism is excessive --

I say its a sign that there is nowhere near the level of negative sentiment that is required for a firm botttom.

Remember, sentiment is a contrary indicator only at extremes . . .

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