Snapshot of the past

WSJ: “In January, Kodak forecast a 10% to 12% industrywide decline this year in unit volume of rolls and single-use cameras — essentially a single roll with a disposable case. But in 2004 through May 16, IRI charted a 16% decline compared with the same period a year earlier. And in the four weeks to that date, the drop was 19%. For both periods, the decline in overall dollars paid at retail was smaller, as pricing remained firm for single-use cameras.”

Sometimes the wheels just fall off all at once. I was short Kodak stock for a few months in 1999. Right trade, wrong millennium. General rule of thumb when investing: things usually take ten times longer than you expect. Be patient. And then be patient some more.