We get right into the first question: does the height of my hair correlate to how bullish I am? Probably...
I discuss what is at state with earnings from Netflix, American Express and Proctor and Gamble. My take on what matters is rather simple.
Netflix is more about controlling costs - who else can they sign up these days?
Amex is about the high end consumer, and trades for twice the multiple than card firms that cater to the less affluent.
PG is a different thing. It's trading at a 24x on earnings with only 2% organic growth? This makes me uncomfortable. I've seen this before....in 2000 it traded at a 30x and people didn't care because it was a blue chip stock. But I have always believed that no company is worth an infinite amount of money.