Watching for the bulls to return…

As the SEC deadline looms for large accelerated filers to file their 10-Ks by Monday, we’re reviewing literally hundreds of filings a day. Besides disclosing the state of their own debts, revenues, legal affairs (and so much more!), many companies are also discussing the state of the economy and what they think the future holds.

While there’s not going to be one, identifiable moment where we can collectively sigh and say, —Whew! Finally, the economy is fixed!, we—ve noticed that many companies seem to be a bit more bullish in their filings this year.

One that particularly captured our attention was the annual report that the NASDAQ OMX Group, Inc. (NDAQ) filed recently. (NASDAQ OMX is the world’s largest exchange company, with 3700 companies listed that have a market value of $4.1 trillion.)

Its outlook for 2010 (on pp. 45-46) is one of the most positive that we—ve seen. After stating that the end of 2009 brought —signs of a recovery in the IPO market, it stated:

We believe that the most challenging economic conditions in this cycle are behind us and the year ahead will likely prove more positive for our business drivers and our operations. We believe that our aggressive steps in meeting our cost, revenue, and technology synergies in 2008 and 2009 will enable us to benefit from improving economic conditions in 2010. We expect to further diversify our business with enhanced product offerings and/or acquisitions which are complementary to our existing businesses.

Granted, the focus here is primarily on NASDAQ OMX’s own bottom line; however, its positive projections are based on the observations that the economy really is starting to recover.

And even though there’s no danger that Wall Street will be confused with Pamplona any time soon, perhaps it’s at least reassuring to believe that the bulls are coming back.

Image source: Comtours