That seems sensible: despite lots of bad press, and a share price far below even the most pessimistic expectations a year or so ago, the Sienese bank still boasts a strong brand and loyal customers.
The World Travel and Tourism Council, a trade body, talked this week of a 30% drop in global travel-industry revenues, before swiftly (and inexplicably) switching to a much less pessimistic forecast: a fall over the next 12 months of 10-20% in America, and less in Europe and Asia.
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This prediction is awfully pessimistic for a company that has consistently been growing profits for over a decade.
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Such a major decline seems like an overly pessimistic prediction for a company with fairly consistent growth.
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And just as the rise of China is a straight-line projection of current economic trends, American decline is a straight-line projection of the fearful, pessimistic mood of a country war-weary and in the grip of a severe recession.
The principal reason for such a pessimistic assessment is that the IMF and World Bank are obliged in structuring their programs to take as a given the existing political and economic systems of prospective borrowers.
Coach Steve Meehan struck a pessimistic note prior to the match, stating plainly that his bulky Bath side faced an uphill task against a resurgent Ulster team backed by a hostile home crowd.
That's a pessimistic outlook for the big picture but it can be better for the small picture where things that individuals do make a difference.
Others were more pessimistic, predicting a longer-term slump that could reach beyond U.S. borders.
This ratio registers in the 96th annual percentile, just four percentage points from a pessimistic peak.
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As minister to France, Morris took a pessimistic view of how the French Revolution would proceed.
But, as his personal fortune declined, Thiel developed his pessimistic theory of a tech slowdown.
He added, however, that it contained a pessimistic view of humanity that he felt bound to oppose.
However, their pessimistic predictions of a slump to growth of 6% seem to have been too extreme.
His pessimistic scenario assumes a devaluation of the Chinese currency, which would trigger further monetary convulsions in Asia.
It looks like the pessimistic player purchased a put spread within the first hour of the opening bell.
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In a popular book called Rare Earth, paleontologist Peter Ward and astronomer Donald Brownlee laid out a pessimistic hypothesis.
No wonder such a pessimistic party does so badly in America's fastest-growing regions.
Gerhard Fasol, chief of the Tokyo-based consulting firm Eurotechnology, takes a pessimistic view.
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The figures are far less than the previous year and they set a pessimistic tone for the whole year, Zhong said.
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Compared to similar readings taken during the past year, this ratio stands just 11 percentage points shy of a pessimistic peak.
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Striking a pessimistic tone, the top reason to cut jobs in January was businesses being forced to close down, causing 9, 131 firings.
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Pessimistic types painted a dark future of trade wars and capital controls.
Meanwhile, option traders have initiated pessimistic positions at a rapid-fire rate lately.
This makes perfect sense: when you are pessimistic you require a higher yield than the one you would require if you were optimistic.
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But the sort of economist Lowrey interviews may actually be too pessimistic a consequence, probably, of viewing every aspect of human life economically.
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And this new bear-to-bull ratio indicates a more positive market outlook rather than a pessimistic one from the usually on-target contrarian point of view.
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The discounted earnings stream is added to a pessimistic valuation of the company at the end of ten years, which assumes just 5% subsequent cash flow growth.
The pessimistic player traded a total of 80, 000 put options on the fund, driving most of the volume generated on the XRT thus far in the session.
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