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How Potent Are Earnings Revisions in the Markets?
Historically during periods of major macroeconomic changes earnings revisions have been less relevant to investors. In march april 2020 most stocks had negative earnings revisions and in september 2008 it looked like the world was ending, so everyone was cutting estimateseveryone was selling. Investors are rushing to risk off sectors because they're like i want my coca cola and that is very much what we've seen historically.