The Gift of Lowered Expectations

If you lower expectations enough, if you get bearish enough, if you get whipsawed enough, pretty much anything looks good. You get a smaller loss from Morgan Stanley (MS) -- we love it! You get an EPS number from Bank of America (BAC) that looks something like you might expect, and you buy it. You see some revenue line from Goldman Sachs (GS) that's truly anemic and you say, "Let me in!"

Let's puzzle through how bad things have been for a moment so we can understand how we got here....555 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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