4Q Earnings on Tap

The fourth-quater earnings train is about to leave. Even with all the writedown announcements, it's tough to predict these things. It's quite possible the losses will be larger than expected. Lehman will report tomorrow, followed next week by Goldman Sachs and Morgan Stanley and then Bear Stearns. Hopefully, we'll see  some glimmers that the big losses are out of the way. That may be wishful thinking, however. Analysts have been cautiously paring their expectations. Stay tuned. - Jim