2min chapter

The Compound and Friends cover image

No pivot!

The Compound and Friends

CHAPTER

The S&P 500 Earnings Component Is 70% Goods, 30% Services

There's an unmistakable slowdown in EPS growth. Earnings component for S&P 500 earnings is like 70% goods, 30% services. The real economy is the reverse of that. So the economy is going to be better than earnings.

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