This is interesting indeed. That 88% of profits needs to be analyzed still further, though, since I saw so many reports of negative profits (I thought that was a good euphemism for losses, red ink etc.). If the trend takes over the NASDAQ companies, as Chris B. reports as possible, one does have to wonder what investors will make of it. Does it mean NASDAQ is as boring as broader indexes? Does it mean stocks that bring any returns are as low-paying as bonds, or even lower? Trends to watch since so many all over the globe are exposed to investments in NA equities. Another story to keep track of, by the way, is the messes the Enron bankruptcy has caused in Japan--first, it scuppers the energy market liberalization that Koizumi and his free market mousketeers are so fond of and second, Japanese security firms sunk a lot of corporate and individuals' money into Enron bonds. But of course Enron had better bond ratings than most Japanese banks or insurance companies. I suspect there are some more insurance bankruptcies lurking once the real accounting gets done.
Charles Jannuzi