Dr. Ed Yardeni who has been very bullish on earnings now believes that even if we don't have a recession earnings will slow dramatically next year and fourth quarter earnings are likely to have more negative guidance and downside surprises. We think he may be a tad optimistic from looking at the information he...
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JJ Abodeeley hits a pet peeve of ours here at Risk and Return, the misuse of forward operating estimates to claim that markets are cheap. Of course, we have spent ten years listening to people claim stocks were cheap no matter the environment.
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Stocks Cheapest in 26 Years as S&P 500 Falls, Earnings Rise 18% There is so much wrong with that statement, so many misleading claims. Feel free to point out the issues in the comments if you see any I don’t mention. Read the article here. My short list: 1. Operating earnings are compared to...
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The recent downturn from the high in October has led to a great deal of chatter about the markets being cheap. That the recent turmoil has presented us with wonderful buying opportunities based on valuation. Readers here know that I disagree, and vehemently. Which doesn’t mean there isn’t money to be made as speculators....
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