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Interessaner Artikel der den immer noch weit verbreiteten Optimismus
zumindest in Frage stellt....
Rattled Stock Bulls Keep Paying Punishing Price for Hopefulness
Funds add $70 billion during rout, at odds with past bear runs
P/E at 18 exceeds all trough valuations in 11 previous cycles
By Lu Wang and Emily Graffeo
1. Juli 2022 um 22:13 MESZ
https://www.bloomberg.com/news/articles/...opefulness
zumindest in Frage stellt....
Rattled Stock Bulls Keep Paying Punishing Price for Hopefulness
Funds add $70 billion during rout, at odds with past bear runs
P/E at 18 exceeds all trough valuations in 11 previous cycles
By Lu Wang and Emily Graffeo
1. Juli 2022 um 22:13 MESZ
https://www.bloomberg.com/news/articles/...opefulness
Zitat: Yet whether it’s bottom-up analysts who follow individual companies or top-down strategists deriving market forecasts from macroeconomic trends, optimism is worryingly evident.
Of 23 strategists tracked by Bloomberg, all see the S&P 500 ending the year higher than where it is now. The selloff has left about 30 companies in the Russell 1000 with forecasts for rallies of 100% or more, including Novavax Inc., a developer of coronavirus vaccine, and Carvana Co., an online used-car dealer.
Amid a slew of obstacles, from rate hikes to a war in Europe, analyst forecasts for earnings have stayed buoyant. At $246 a share, S&P 500 firms are expected to see growth of more than 8% next year.
“The market is ahead of the sell-side analysts” in anticipating a slowdown, said Brad Neuman, director of market strategy at Alger. “It resolves itself in one of two ways. Either the earnings are broadly right and the stock prices will reverse and catch back up to the earnings. Or the earnings will follow the prices downward to some extent. I think it’s the latter.”
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