That's not what we expected to see in a year when earnings growth would slow slightly, and we were seeing some of that slowing already.
Dorsey Farr
Stocks remain richly valued as a multiple of earnings. If earnings do not accurately represent the fortunes of Corporate America, then stock prices may be even more expensive than the statistics suggest.
america corporate statistics
Ever since the train bombing in Spain [on March 11], there's been an expectation built into the market that there's a pretty good chance that something like that will happen here before our election.
chance good market expectation train election pretty
If the targets continue to be specific industries such as financial firms and airlines, it's not clear that another terror attack will have strong ripple effects through the rest of the economy.
rest strong terror economy
One popular explanation is that there is a glut of capital in the world in search of a home, and a lot of it finds its way into relatively risk-free assets, such as Treasury bonds.
home world search explanation popular bonds
We were prepared for a more difficult ride than we wound up with. An S
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My expectation is the general trend of the next few quarters is for profit growth rates to come down, and it will start by having companies send out that message.
growth start expectation message profit
We got off to such a raging start this year, it was hard to believe it was sustainable. There was very little that warranted the huge run-up in prices coming out of the gate.
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Right now bonds are reacting, and perhaps overreacting, to employment and CPI. What we will probably see in the next couple of months is that we aren't as close to an interest-rate hike as those two reports might suggest.
close bonds employment
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