Chart o’ the Day: “Earnings Will Disappoint”

Laszlo Birinyi is out with his new quarterly commentary and he’s got a wicked chart to demonstrate how wrong the bearish earnings forecasts have been in the media all year. US companies continue to find bottom-line growth and the naysayers continue to be confounded…

Earnings will disappoint. As regular as rain in April, bears have warned that this quarter the lack of earnings will derail the market: “Will earnings usher in a swoon in US stocks?” and “The S&P500 is at risk of a correction if profits fail to rise.” However, we have heard this nu- merous times before:

(click to embiggen!)

Screen Shot 2014-07-31 at 9.53.01 AM

 

Source:

Reminiscences – August 2014
Birinyi Associates

hat tip Josh F

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