Looks like we are starting to see a lot of profit downgrades!!
I got a trifecta this week - MPI, RCL and MGW - all bad news
I'm starting to think that maybe we are in a bubble caused by high expectations of future profits. Especially considering many of these profit downgrades are still forecasting profits higher than last year.
And remember that 1 profit downgrade is normally not the end of it, because Company's generally don't want to deliver bad news, it gets spread over time...so i'm sticking with my policy of taking the hit of a profit downgrade announcement.
Anybody got any other thoughts on prfit downgrades?