David Bianco

Tyler Durden's picture

Merrill Vs (Ex-)Merrill: Rosenberg Takes On David Bianco's Unending Bullish Misperception Misconceptions

The focus of Rosie's morning note has to do with debunking the latest misconception pushed by Barron's, which in all honesty is merely paraphrasing one of Rosie's own successors at Merrill Lynch - David Bianco, whose most recent fluff piece "Harvesting the Truth" (presented below) was an insult to thinking homo sapiens worldwide. The particular item that Rosie has beef with is the Bianco allegation that the consumer is not really 70% of US GDP. Here is Rosie's rebuttal.

Tyler Durden's picture

Meet Richard Bernstein's Jolly And Much More Optimistic Replacement David Bianco

With normalized cover page headlines like these:

  • Robust S&P 500 EPS growth expected for 2010 and 2011
  • S&P 500 EPS recovery to outpace the US GDP recovery
  • Financials to contribute to EPS growth in 2010 and 2011
  • Normalized S&P 500 EPS is above our 2009E and 2010E EPS
  • Our normalized EPS supports a strategically bullish stance

is there any wonder how happy Bernstein and Rosenberg must have been to go to work every day?

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