The Earnings Recession
April 09, 2008
01:16 PM ET |
Kirk Shinkle
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Over at the Big Picture, Barry Ritholtz reminds us that despite all the trouble in the markets and the threat of recession, analysts are still probably behind the curve when it comes to cutting their earnings estimates. He says:
"It's hard to really say that stocks are cheap here. At best, I believe we can argue that—assuming that historically high earnings do not fade—that stocks are not terribly expensive. But that is very different than saying they are cheap."
He says "the earnings recession is just now beginning."
Tags: recession
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