Mr. Killjoy

Best Buy, Intel, Micron, Oracle, now BBBY all point to bleakness about what the near-term future holds. Even NKE who reported 18% sales growth showed shrinking profit margins. Market P/E’s they say are in the low to mid-teens, but what about forward E?   I don’t expect it to be much higher over the next couple of quarters and that the disappointments above are only the beginning.  Not expecting a good first half 2012.

I am beginning to get curious about the BRICs. Many are in bear markets and this is where the value guy in me starts doing homework. BTW, the guy who coined this name has a new book out with a new acronym — MIST (Mexico, Indonesia, South Korea and Turkey). More homework.

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