The Best Denial Money Can Buy

November 12th, 2008

I don’t care what your market share is, or how good you are doing compared to your competitors. Your investors are off their rockers if they had no idea you were going to be hit by the economic slowdown.

Best Buy (BBY) terrified investors on Nov. 12 with bad news indeed. The electronics retailer said it sees consumers sharply cutting back their spending. Even worse, the well-respected executives at Best Buy seem to have little idea how bad conditions could get this holiday season.

I believe they call this denial.

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