Reuters (January 29)
“Equity analysts are still counting on a speedy reopening. They expect the 1,585 companies included in the Global MSCI Index to report 6% higher net profit this year than they did in 2019, and 21% higher earnings in 2022.” Constituents are “still valued on an average multiple of 21 times this year’s forecast earnings, far above a long-term average of 16 times. With the path out of lockdowns looking uncertain, such exuberance is likely to end in disappointment.”
Tags: 2019, 2022, Analysts, Disappointment, Equity, Exuberance, Forecast earnings, Global MSCI, Lockdowns, Multiples, Profit, Reopening, Uncertain
Institutional Investor (May 4)
With an unexpected turn, the Icahn-Xerox battle has grown even uglier. “After surrendering their jobs to a ‘gloating’ Carl Icahn and Darwin Deason, Xerox’s leadership defies the activists and hangs on — for now.” Where the chips will ultimately fall is now highly uncertain.
Tags: Activists, Battle, Deason, Icahn, Leadership, Uncertain, Unexpected, Xerox
Washington Post (June 6)
“Vying for the title of the United States’ most progressive city, Seattle this week decided to raise its minimum wage to $15 an hour.” Amidst the applause and the doomsayers, however, lies the truth. Nobody knows how this experiment will end. “Despite literally hundreds of studies focusing on the minimum wage, top economists are still uncertain about the consequences of raising it.”
Tags: Consequences, Doomsayers, Economists, Experiment, Minimum wage, Progressive, Seattle, Studies, U.S., Uncertain
