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☕ Investing in optimism really is the best way to go

Nov 08, 2024

Good morning from Japan! 👋

Well, technically speaking, good evening – I say that because we’re a day plus and across the International Dateline, too.

We’re celebrating my mother-in-law’s 92nd birthday tonight so, with your permission, I’ll keep it brief. That way I can get back to the family for dinner and a surprise cake we’ve picked up from a local bakery she loves.

I’m seeing and hearing a lot of chatter right now about the possibility of a pullback, a dip, a post-election correction… whatever you want to call it. That’s definitely possible but shouldn’t be your primary focus.

Roughly 75% of the 70%+ of S&P 500 companies that have reported through November 1st have turned in positive earnings surprises and ~60% have turned in positive revenue surprises.

That’s the stuff worthy of your attention.

The blended earnings rate is 5.1% which, if it holds, will be the 5th consecutive quarter of YoY growth – both data points courtesy of FactSet. (Read)

Let that sink in.

The point I want to make is that the best companies are a whole lot stronger than you’d think and the markets reflect that.

Don’t get me wrong, it’s tempting to get sidetracked by the possibility of a downside move but the reality of our world is that profits are always the currency of success.

Speaking of which, I sat down at the MoneyShow recently for a wide-ranging interview with my friends and colleagues, the super smart Jim Iuorio and Bob Iaccino. And they’ve just released it. (Watch)