America’s ‘Profit Reckoning’ Never Showed Up
This quarter (Q3) marks a year since investors were told to be on watch for a so-called "profit reckoning" among US corporates.
The thesis was eminently plausible, and in many ways still is. Labor costs are higher and even if they stop rising, they won't likely go into reverse absent a wave of layoffs. It's not easy to take away someone's raise, and if your employees are unionized well... suffice to say labor as an economic actor is on the comeback trail, even as the sheer amount of ground to m
The anecdote about earnings being effectively known by everyone in that estimates are rarely far off is surprising bc from what I’ve seen in the hedge fund world, they take “earnings season” super seriously. They seem to think there’s a lot of alpha to be captured (and other fancy hedge fund terms)!
“With Q2 earnings complete” … Still waiting on just one more.
I wonder why it is Nvidia reports so late in the quarter? August 23, after market close. Put it on your calendar folks!
The Nvidia quarter ended July 31.
I have my popcorn ready……