That's all well-and-good, Warren, but no one knows what companies will survive the current shake-up. If the credit markets remain frozen (which they seem likely to do for some time) and companies can't get money to, you know, pay workers or make necessary capital investments, it's a very real possibility that sound companies will go down. In other words, just because a company has a great 10- 15- or 20-year forecast doesn't mean it'll make it through the next 2-3 years. Putting one's faith in the market based on a century of resilience ignores the threat (not just uncertainty) of current circumstances.
1 comment:
That's all well-and-good, Warren, but no one knows what companies will survive the current shake-up. If the credit markets remain frozen (which they seem likely to do for some time) and companies can't get money to, you know, pay workers or make necessary capital investments, it's a very real possibility that sound companies will go down. In other words, just because a company has a great 10- 15- or 20-year forecast doesn't mean it'll make it through the next 2-3 years. Putting one's faith in the market based on a century of resilience ignores the threat (not just uncertainty) of current circumstances.
Post a Comment