4min chapter

Forward Guidance cover image

George Noble: A 20-50% Market Crash Is Coming

Forward Guidance

CHAPTER

The S&P 500 Could Earn as Little as $200 Per Share

The S&P 500 is an index that owns all the stocks. And you have realized earnings, what study earned in the past and then Earnings Expectations (EEs) You discount those future cash flows back to the present using a discount rate. So basically the future is worth less because interest rates are higher. The only way they're really going to start shedding labor in size is if their profits get whacked. That would be a pretty rich level for a market bottom.

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