looks expensive imo, page-7

You know the old saying 'people who gaze into crystal balls are bound to eat ground glass sometimes?'

Here's a trip down memory lane. Back as recently as JANUARY 2009, when WES was trading at $16.13, an HC poster wrote on the WES forum:

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Now I know some will jump all over me for saying this, but imo Wesfarmers is about to hit the skids big time.

With huge debt and a slowing economy, already imo in recession and moving mid year to late year into depression, Wesfarmers will be attacked and its share price will suffer like few others.

IMO Wesfarmers may have to consider a fire sale of assets very shortly and this will present bargans for others but it will be near catestrophic for WES s/p.

I am predicting here that Wesfarmers will slide to $10 by the end of the financial year and $5 by this time next year.

I base the above on a weakening economy, the high debt, market sentiment, risk, and a slow down in all areas of operation and demand.

It will be awful imo.

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IMHO, WES WON'T SEE $16.13, MUCH LESS $5 OR $10 ANY TIME SOON !!! Of course, only time will tell for sure, but I think don't short your chickens before they hatch!

I note that the poster I quoted was 'temporarily suspended.' Not purely for wrong-headedness, I assume...