Earnings Earings Everywhere

It never ceases to amaze me; last week I mentioned that the market had been alternating between up and down weeks. This fact became widely know and as always once we all know something is going to happen, it doesn’t. Concern is now shifting to earnings this week and while the doomsayers are speculating about the demise of corporate earnings, I would suggest that the strong earnings growth of the last 5 odd years seems to be nowhere near abating. The question remains as to when equity markets will begin to recognize this fact with higher equity valuations.