2min chapter

The Compound and Friends cover image

Bearish but Priced In

The Compound and Friends

CHAPTER

The Risk of Looking at Averages

With earnings flat and margins down that means that revenues are still rising. The chart below shows that the s&p 500 revenues per share continue to stair step their way to new all-time highs. So this is the textbook definition of something that is not inflation adjusted.

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