So I think when they report today, you want to take a look into the numbers and see what the ad revenues were for last quarter and, indeed, as this year progresses.
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We just finished the worst month we've had in seven years. Last week was a particularly bad week, with the SP being off about 2.5 percent and a lot of people being on vacation. It just sets the stage for a bit of a bounce back today.Vincent Farrell
Now there would be a lot of people that would argue they are worth it. I would say, okay, maybe they are. But, gosh, if there's a stumble... if you're trading at more than twice your growth rate... the down side becomes horrific.
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I don't think the Fed is going to raise rates. They are worried about overheating, but there are no signs of inflation.
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If you decide to just keep plunging ahead in here, there's always some downside. And I don't know that we're really expecting any downside. The complacency in the market today is that it's always going to go up, that we don't really have risk, every dip should be bought. I don't think that's a healthy situation because there are ups and downs.
Vincent Farrell
I think, on balance, earnings are up between 13 and 14 percent on revenue growth of about 8 percent. That's nice, very healthy, but not something to start a brand new leg of the bull market on.
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