Big Media Stocks Tank, Almost Nothing Left To Support The Market

By: John Rubino | Thu, Aug 6, 2015
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Bloomberg just posted an analysis of the recent correction in media stocks (Another major pillar of the bull market is collapsing) that contains some surprising, occasionally amazing stats. Consider:

Among the many interesting things about the rise and fall of the old media stocks is that these companies were supposed to be the victims of technology. Everyone is replacing cable services with Netflix and Hulu, while movies, being digital files, are supposed to go the way of records and books, easy to make and download and therefore increasingly hard to sell at a profit.

But there they were, dominating the market. If this was a fluke -- i.e., the last gasp of an industry about to be swamped by digitization -- then it's hard to know what these guys are really worth.

And with heath care and retail all that remain to prop up the market, it's hard to know where the overall bottom might be.

 


 

John Rubino

Author: John Rubino

John Rubino
DollarCollapse.com

John Rubino

John Rubino edits DollarCollapse.com and has authored or co-authored five books, including The Money Bubble: What To Do Before It Pops, Clean Money: Picking Winners in the Green Tech Boom, The Collapse of the Dollar and How to Profit From It, and How to Profit from the Coming Real Estate Bust. After earning a Finance MBA from New York University, he spent the 1980s on Wall Street, as a currency trader, equity analyst and junk bond analyst. During the 1990s he was a featured columnist with TheStreet.com and a frequent contributor to Individual Investor, Online Investor, and Consumers Digest, among many other publications. He now writes for CFA Magazine.

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