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SPDR S&P 500 ETF Message Board

  • techglass1 techglass1 May 2, 2013 1:28 PM Flag

    Current state of market: Why its bubbling over

    With the Fed and every central bank debasing their currencies and artificialy keeping interest rates at zero there is no reason for people to save money or to buy bonds, although there certainly was an appetite for $1 Billion worth of TXN 5 and ten year paper at a whopping 1% for the 5 year and 2.5% for the ten year, How about Apple selling $17 Billion in debt to use to buy back stock when they already have almost $100 Billion in the bank but they dont want to repatriate that cash and pay taxes. Now we have consumer staple stocks like Clorox, PG,Colgate, hershey all selling at over 20x earnings ..thats right those 2-3% revenue growers are attracting buyers for their 2-3% yields....thats not a bubble. Utilities are now selling at 20-25x earnings, Fb, LNKD, YELP, all selling at 100x 2014 earnings..but hey they are fast growers. Revenue estimates keep coming down and earnings are being made by cost reductions, lower interest expense, lower tax rates, and huge buybacks being fueled by easy money policies. Lets sell debt at 1% and buyback our stock at over 20x earnings..that will help our stock price. Now Bond funds are buying stock, central bankers are buying stocks and this is all ok..heck..People are talking about fundamentals improving thats why stocks are levitating.....It seems like there is no end to this buying......

 
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