<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/ee326c9d-24cc-488e-816c-50e25792bbcf/9368E419-3E46-4616-BD8E-0B27B3E03898/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.hussmanfunds.com/wmc/wmc060306.htm" href="http://www.hussmanfunds.com/wmc/wmc060306.htm" style="font-size: 11px;">www.hussmanfunds.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.hussmanfunds.com/wmc/wmc060306.htm"><I class='largeText'>John P. Hussman, Ph.D. All rights reserved and actively enforced.</I></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.hussmanfunds.com/wmc/wmc060306.htm"><P class='largeText'>Also, a nod to Google's CFO George Reyes for the willingness to state a clear fact, and even going so far as to identify it as obvious: “Clearly, our growth rates are slowing and you can see that each and every quarter… We're getting to the point where the law of large numbers starts to take root.” While I'm no fan of Google's valuation, the company should count an honest CFO as a major asset. Meanwhile, many of Google's shareholders (as well as at least one CNBC reporter) characterized this simple candor as a “gaffe.” The desire of investors to tuck their fingers in their ears and hum, and to prefer “strong numbers” over honest ones, is what gave us Enron and Worldcom.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/9368E419-3E46-4616-BD8E-0B27B3E03898/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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