"In aggregate, they really crushed it," Golub said. "You're going to see the same thing, and you're seeing that in all kinds of capital market activity and trading activity — things related to interest income, and the like."
Overall, he believes Wall Street is too pessimistic on S&P 500 earnings growth this season. Refinitiv estimates it will fall by 10% in the fourth quarter. Meanwhile, Golub's forecast reflects a 4% dip in growth, and he's not ruling out a slight gain. In a recent earnings outlook note, Golub wrote: "Unusually robust analyst revisions points to further upside to corporate profits. Separately, history indicates that strong ISM readings, like last week's 60.7, is highly correlated with beats.", Golub had a more nuanced view. He wanted to wait for more clarity on policy under the Biden administration before making a major call.
TradingNation I think you highly underestimate the power of legislation to slow that.
TradingNation No doubt some sectors are booming.