By now it is widely-known that earnings are collapsing (2016 global EPS growth has been slashed from +16% to +8.2% in the last few months), so many – rightly – ask, why have stock prices not careened off the proverbial cliff as "mother's milk" dries up? The answer is simple… Always-over-optimistic analysts are 'predicting' a humor-free 19% growth in global earnings in 2017…
A veritable miracle of hockey-stickedness. While this may seem like a 'risk' one should be compensated for taking, the story for 'bullish' investors get worse.
Buyers of global stocks have never, ever, paid more for a dollar of Sales...
What could go wrong – The most expensive market ever and the biggest hockey-stick earnings hype ever?
via http://ift.tt/1qFkcIy Tyler Durden