Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.

J. P. Morgan

"Sell down to your sleeping point"

Thursday, March 5, 2009

eric schmidt tries to call a bottom

Eric Schmidt on CNBC tonight:

SORKIN: GIVEN YOUR STRENGTH IN THE MARKETPLACE RIGHT NOW AND REALLY WHEN YOU LOOK ACROSS THE BOARD, YOU ARE THE 800-POUND GORILLA RIGHT NOW. WHY ARE YOU NOT TAKING ADVANTAGE OF THIS PERIOD TO TRY TO MAKE ACQUISITIONS?

SCHMIDT: WELL, WE LOOKED AT A FEW. FIRST, I'M NOT SURE PRICES ARE AT THEIR LOW YET. THE SITUATION GLOBALLY IS PRETTY DIRE. AS YOU TALKED ABOUT ON THE SHOW THIS EVENING, THERE IS JUST AN AWFUL LOT MORE BAD NEWS TO COME.SO IT DOESN'T MAKE SENSE TO MOVE FROM OUR PERSPECTIVE UNTIL WE GET NEARER THAT POINT.



Oh yep Schmidt will time this perfectly

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