earnings

Earnings were boosted by corporate tax cuts in the past year. And earnings growth has been buoyed by significant corporate releveraging. But 2019 is looking challenging for companies now and the chart below shows you why. While earnings…

I will continue my 2019 outlook pieces in the coming days. But we've seen a lot of data out today. I think what we're seeing will have a bearing on rate policy, especially given what's happening in the bond market, something I discussed…

German and Japanese auto manufacturers succeed despite sticking to a high-wage model.

I have six sections in todays's newsletter: markets, macro, micro, the US, the UK, and China. So there's a lot of news flow, most of it negative unfortunately. The key piece in the mix of all of this is the 4.2% update to the GDPNow…

Some figures on the Q2 2018 earnings season

Investors loved Tesla's earnings report. But there was a hidden message in the earnings call about Tesla's future.

It was a good quarter from Apple. But earnings growth was flattered by stock buybacks. There are a lot of growth opportunities though.

The big problem with Amazon is valuation. It's hard to justify paying 90x this quarter's earnings for a company that is as mature as Amazon is, irrespective of the top-line growth.

Between 1985 and 2018, the global average statutory corporate tax rate fell by more than half. This column uses new macroeconomic data to argue that profit shifting is a key driver of this decline. Close to 40% of multinational profits were…

My first weekly post at Creit Writedowns Pro includes some thoughts on Tesla, Trump's Fed choices, the US trade war with China, M&A and corporate earnings.