US stock market earnings growth not much stronger than dotcom boom era, analysis finds
By
Ruchir Sharma
Crispy enough to crunch, soft enough to enjoy. A good bake.
Summary
The article argues that the current US stock market boom, while investors claim it's justified by strong corporate earnings unlike the dotcom bubble, actually shows earnings growth that is not much stronger than during the dotcom era. The author, a chair of Rockefeller International, challenges the narrative that today's market is fundamentally different and more sustainable than the late 1990s speculation.
Key quotes
· 3 pulledInvestors insist that today's US stock market boom is justified by very strong corporate earnings and is nothing like the dotcom mania.
A 28 per cent surge in the past quarter's earnings — the kind of increase normally seen in a post-crisis recovery — reinvigorated faith that the US market can power through
It's not much stronger now than it was during the dotcom boom
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