MARKETS & INVESTING
January 12, 2024
Review the latest Weekly Headings by CIO Larry Adam.
The start of a new year brings the annual tradition of setting a new goal. Whether you choose to commit to a family, finance, health or personal goal is a matter of choice, but the promise of becoming a better version of yourself entices all of us. While enthusiasm about sticking to a New Year’s resolution is greatest at the start of the year, it often fades as the year progresses. Which got me thinking, New Year’s resolutions are like earnings estimates—they start strong at the beginning of the year as analysts are most optimistic, but typically move lower over the course of the year. Historically, over the last fifteen years, S&P 500 earnings have been revised lower throughout the year by ~4%. As 4Q23 earnings season kicks off this week and 2024 earnings come into focus, here are some of our initial thoughts.
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