The Market's Expectations for the Second Half of 2019

The market is now anticipating some big acceleration and growth starting in the fourth quarter that carries into next year. Our view and has been consistent is that we think we're in an earnings recession. If you miss revenues by 5% because of price, that's 20% hit to earnings. That's how you can get to our earnings forecast. And I think that's our differentiated view. Can we be wrong? Of course. But that's our job to just make sure we're not missing something. This is the key issue for the second half of this year.

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