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Kolanovic: ‘Pessimism Rising,’ EPS Estimates Too Rosy
"Investors’ pessimism is rising."
So said JPMorgan analysts led by Marko Kolanovic on Monday.
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Per my tracking, 3Q reports have improved, a little. Of companies reporting by 10/31 am, 40% by name saw +ve revisions for 4Q revenue (or, 50% by market cap) and 32% saw +ve revisions for 4Q EPS (or, 43%) .
I think what Kolvanic describes in the last quoted paragraph would happen in a normalization, no recession required.