Wednesday, April 01, 2009
Some inklings of good news - but what is it?
The CEO of SABIC is a little bit up-beat, but doesn't say why. (video) I wish I knew. Certainly the plastics industry in the long-term is looking fine, but most people right now have massive myopia. i.e., "When's the recovery going to start?"
SABIC is largely state-owned, so one would at first think that that would make them immune to the massive myopia of Wall Street where you're only as good as your last monthly-earnings guidance (balanced against the high-society-whispers of company analysts) and thus less prone to the "happy talk" needed to continually sell the company. The stock can tank, but no vultures cannot descend on the carcass unless the state decides to throw in the towel.