Stock markets have taken quite a plunge in the last few days, its biggest drop in three years. The combination of a backlash against commodity speculation, profit taking, and the inability of the Fed to stop rate hikes has really put the hurt on investors without the nerve to stay. My advice at the moment is to stick with companies with profits in strengthening currencies, and costs in the weakening dollar. Rate hikes will pause in the short run, rise in the long, especially with the yuan breaking the 8 RMB/$ barrier and the yen fluctuating at the 110 border.
Despite the hubbub of E3, seems like the market has not been kind to game companies. Wedbush Morgan insinuates we're already at a plateau in the game industry, with apparent gains from console sales actually only coming from people buying two consoles. In other words, market penetration is not up to snuff. Atari, fer instance, is clinging desperately to its AD&D license. The only thing they've got left is Call A Friend.
What was up to snuff, and by snuff I mean the film variety, not the 'baccy, was the horrifying crash and burn the Phantom Console with the departure of Kevin Bacchus and the catch-in-the-act of ex-CEO Timothy Roberts, who allegedly faxed unbacked promises for Infinium stock to drum up the price. The SEC replied with "BOOYAH!" Did I not tell people to stay away from this fictitious fiction of a company? Anyone get it on tape? 'Cuz that's snuff.
Let's hear what Guitar Hero babe has to