Current Markets

Earnings Learnings

Stocks are anticipatory. It’s nice to hear from a company about what’s gone on during the previous 90-day reporting period, but what investors today are buying (or selling) is the outlook going forward.

Chart o’ the Day: How the contracting PE multiple stole 2018

“EARNINGS ARE GOING TO BE GREAT THIS YEAR!” your favorite stock clowns proclaimed at the top of their lungs. And they were right, but there is a P in the old PE ratio and it reacts to things like changes in liquidity, sentiment, global trade conditions, etc. In this chart, from Bloomberg by way of…