Earnings Enthusiasm in the AI Age
I often find Fundamental indicators like the PE ratio function more like Sentiment indicators, and here's a key example
The more bullish Wall Street analysts are on earnings growth, the weaker subsequent returns are likely to be
1. it's in the price
2. it's a sentiment signal $S&P 500(.SPX)$ $SPDR S&P 500 ETF Trust(SPY)$
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Why this chart is interesting, aside from the obvious, the data highlights the link between level of earnings enthusiasm vs future returns..
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Earnings Enthusiasm in the AI Age
There may be a sentiment signal there!
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https://twitter.com/Callum_Thomas/status/1791181918681059723
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