It's called the machine. Amazing. Markets up on anything.............
I would like to try some of whatever industry analysts are smoking. You can compare my earnings forecasts to their consensus estimates on a weekly basis in YRI S&P 500 Earnings Forecast on our website. I say “tomato.” They say “tomahto.”
My earnings-per-share estimate for 2018 is $155.00 (up 17.4% y/y). The analysts continue to up the ante and are currently at $160.40 (up 21.5%). My estimate for 2019 is $166.00 (up 7.1%). Theirs is $175.72 (up 9.6%). Perhaps the analysts are just high on life.
Their growth estimate for next year seems too high to me since I expect 2019 earnings growth to settle back down to the historical trend of 7%.
Are They All High on Life?
Yardeni says "You can drive a truck between my earnings estimates and theirs."
Yet he still suggests "the stock market is likely to be at new record highs by the end of this year," even with his earnings estimate.
http://www.zerohedge.com/news/2018-05-20/earnings-estimates-yardeni-asks-what-are-analysts-smoking?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29
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