Leave it to the asshat analysts…..
S&P consensus forecasts are still lofty. Recent info from Bloomberg showed per share earnings of about $64 (2009) and $80 (2010). Do people realistically think earnings will grow 25% y-o-y in 2010? LOL!
If you compare what S&P 500 margins were during the recession of the early 1980’s, EPS estimates should be more like $38 for 2009, —-or, 40% below current consensus estimates. But on the other hand, we have the Obama stimulus package….
Do we have a lot of room to drop? Uh, ya.
Just saying……………
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