Interesting chart from Albert Edwards, which continues on a recent theme…
This stall-out in earnings is something more and more folks are paying attention to.
Earlier this week, Citi’s Tobias Levkovich pubbed this chart, showing the negative trend in upward revisions, and how that seems to be at odds with the market.
So far investors don’t seem concerned, and instead are focused on the “improving economy” which seems defensible, but at some point the tension between the growing economy and the mediocre earnings picture will have to resolve itself.
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