Taps Coogan – July 26th, 2021

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Here is a tip: When a long term forecast is swinging wildly from one month to the next, it is a short term forecast.

As the following chart shows, via the Daily Shot from Bank of America, that is now the case for long term (presumably five year) earnings per share (EPS) growth estimates. which have rocketed from a near record low, to a wild record high, back down to the halfway point, and back up, all within the span of a year.

It’s safe to assume that the ‘consensus’ doesn’t have a clue as to what the long term profit outlook resembles.

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