Market Pulse

Sorry, my bad

The new theme for the 2nd half of the year is -- you guessed it –- restatements.

Here is a short list to lead the pack.

Nortel, Red Hat, Omnivision

This is only a glimpse of what is to come in 2005 as we will see more and more companies file for earning restatements, especially in the tech sectors.

Four restatements that should have happened but never will

1. Bush restates the war in Iraq to it was a mistake and we’d should've spent 40 billions of tax payers’ dollars on health cares and address other internal affairs.

2. Greenspan restates his previous inflation reading and concludes that high inflation will negatively affect corporate profit and consumer lifestyle, hence to extend our standards of living, he will accelerate the normalization of short rate to 3%.

3. Cramer restates his 2004 five MUST owned stocks, BERQY (Broadcom, eBay, Research In Motion, Qualcomm and Yahoo), to five MUST short.

4. CNBC restates its purpose on the tube from stock pushing propagandist to no-frill stock news reporter.

And there you have it. The world is full of things you want to restate, but they will never happened as it is part of life.

CHEERS!

posted by jason @ 9:08 PM