"This is a bull market…….The difference this time is the speed at which companies adjusted and cut their costs. We all know that when a recovery does take hold, the rebound in earnings is going to be very dramatic." – CIBC Asset Management, October 2009
For old-timers on Slope, you may remember reading this before……..
"…industrialists have been cutting costs and increasing efficiency. This will increase profit margins when the recovery comes." – Wall Street Journal - July 11, 1930.