S&P Earnings

23 months ago in March is probably early to mid March of 2021. The fastest increase in Fed funds from zero to effectively, let's call it 5% where we're going to be at the March meeting. Some strategists have are expecting 2023 S&P earnings below $200. So when I do that on the most likely scenario, which I put out from my year ahead forecast, I came up with $210 a share. That still assumes a double digit margin for the S&P 500. If we do end up in recession, that'll be the first time in the history of theS&P 500 operating earnings that you've had a doubledigit margin in a recession.

Play episode from 24:05

Transcript

The AI-powered Podcast Player

Save insights by tapping your headphones, chat with episodes, discover the best highlights - and more!

Get the app