Correction: we're so accustomed to policymakers over-promising and under-delivering that we had the subject line and title backwards earlier. This email is fixed to show it correctly. Thanks.
Earnings Season: Under-Promise and Over-Deliver ...
The message is: we're on the case and nothing bad is going to happen. Any thinking person would see this as a hollow, insincere gesture. But the crowd doesn't think; the crowd laps it up. Ever since the financial crisis sent shockwaves across world markets in 2008, investors' main fear has been the 800-pound black swan in the room. Naturally, to alleviate their concerns, our Presidents, Prime Ministers, Central Bankers and global financial organization heads come forward. They step in front of the swan, pretend it's not there and admit things aren't going smoothly; but at least ...
Market Vitals | 10 October 2012 [http://blackswantrading.squarespace.com/storage/market-vitals/101012_mv_expectations_earnings.pdf] ~ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
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