Truly a bizarro world.  More so considering that stock valuations are now decidedly high in a slowing global economic environment.  Amazon continues to baffle, incredibly high valuation and a revenue growth rate that is now slowing down, I think I read 15% this quarter, it was a YoY growth rate right?  If so, it is well beyond my comprehension why it is at a valuation expecting perfection.

Procter and Gamble is another company that while great, and one that commands vast and top shelf space at supermarkets, misses on top line (just like most every company out there, with few exceptions), yet it only barely budged on the miss.  PG has had revenue (and profit?) declines for 5 straight quarters, its revenue has been stagnant for three straight years and this fourth year is likely another year of declines.  It is trading at a forward PE of 19, in normal times it would be hard to justify a multiple of 12, and only because it pays a dividend and is a stable company.

One of these days the market will surprise this complacent world.