Mike Wilson Asks: ‘Do Earnings Matter?’

Morgan Stanley's Mike Wilson has a question. Maybe you can answer it. "Do earnings matter?" he wondered, in a note published Monday. I'd like to tell Mike that they do, but the truth is... well, the truth's complicated. "With year-to-date returns driven nearly 100% by multiple expansion, the market either doesn't appear to care about earnings, or it expects a major reacceleration in growth both later this year and next," Wilson wrote, in a sweeping preview of a US reporting season which conse

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One thought on “Mike Wilson Asks: ‘Do Earnings Matter?’”

I very much appreciate Mr. Wilson’s analysis and perseverance … my hope is that 6 months from now he’s hot asking, “Does anything matter…?” … have a good week all …