MI258: Expect Further Stock Market Declines & A Recession in 2023 w/ Chance Finucane
The Intrinsic Value Podcast - The Investor’s Podcast Network
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What's Your Earnings Guidance?
Wall Street still has consensus estimates of earnings growth of about 5%, which seems quite unrealistic if we're expecting a recession. We would expect actually that that number would be more like down 5 to 15%. So say anywhere between $190 and $205 per share, that would be more our expectation. And then just circling back into what that means for prices, if that correction is realized, would that suggest about a 20% correction from current prices in the market? Yeah, 20% is pretty much dead on right now.
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