By Janine Perrett

As I don't claim to be an expert on share tipping, even after 35 years covering business on and off, profit season has me asking some seemingly stupid questions.

Like why, if Telstra's profit is virtually flat do they announce an increase in dividend?

Time was when an increase came as a sort of reward for an improvement in earnings.

Now it is often about an improvement in earnings for the share price and executive bonus.

Then again the so-called experts are frothing over next week's BHP results and expectations they might cut dividend after an expected collapse in earnings.

Wow that would be radical wouldn't it?

It is like all the companies that fall on good profits and rise on bad ones. 

"Meeting expectations or failing to meet expectations" or that old one - "the market had already factored it in".

Given we are meant to have continuous disclosure on how a company is performing, you would think there were no surprises left.

But then again Slater and Gordon shows us what a travesty are those continuous disclosure regulations.

Meanwhile we keep hearing how positive is the current profit season with most companies traveling along well and everything supposedly better than you would think given the negativity around.

All the medias fault say some.

Yeah and nothing to do with their own attitude summed up by the Business Council of Australia and other business mouthpieces constantly whining about how tough they are doing because of our terrible tax regime.

As for the media to blame for the downturn, we would be first to admit that most didn't see the great New Year bear market coming. Nor did the so-called experts.

And locals should just admit they simply follow what Wall Street did overnight and it has very little to do with the profits of our local stocks.

It's all about the oil price, stupid.