This translation has been automatically generated and has not been verified for accuracy.The pandemic has made profit and cash flow estimates nearly impossible to pinpoint with any confidence. The resulting information vacuum has been filled with a dizzying variety of credible strategist forecasts.
Mr. Wilson trusts that U.S. government fiscal measures – the scale of public spending will create an estimated fiscal deficit of 18 per cent of GDP this year, the biggest since World War II – will minimize the market damage arising from a recession. He believes the worst of the equity market selling is behind us.. Mr. Wilson’s colleague Serena Tang wrote a report arguing that a slow, grinding market recovery was in store, not a quick lucrative snapback.
Mr. Hale believes that “Growth and [earnings] expectations still need to be revised lower, quicker, and until that happens, negative surprises are likely.” Ms. Subramanian began the research report on a negative note, writing “It could take multiple years to recover lost corporate earnings,” but ended with happy thoughts for buy and hold investors: “Panic selling is a recipe for losing money: the best days typically follow the worst days, and since the 1930s, if an investor sat out the 10 best days per decade, the returns would be just 91% vs. 14,962% returns since then.
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