Talk about optimism: Peter Grauer, Bloomberg’s chairman, thinks the news industry may be at the bottom of its slump cycle, he tells FT; reading between the lines, he still believes it is a cyclical, not a secular change in the news media establishment, though the rest of the world outside the Bloomberg bubble would belie any of those claims. Also, he said the company is looking to make more acquisitions post BusinessWeek.

The company had looked at 70 investment opportunities in the planning cycle it was now completing, he said, and would fund “a considerable amount of them.” Among the other projects on at Bloomberg: it is working on a online product for the property business; it has also begun trials of Bloomberg Law, another online legal service competing against similar products by Thomson Reuters (NYSE: TRI) and Reed Elsevier (NYSE: RUK), which it aims to price high.

Give it a year or two; pretty soon they’ll come to their senses about the economics of the broader news industry, the industry that they want to dominate by becoming the world’s “most influential source of news.”