by Chad Shoop
The Sovereign Investor
Sometimes I hate being right.
As first-quarter earnings season was getting under way in April, I warned that weakness in corporate earnings that was supposed to be confined to the energy sector had now infested the broader economy … and I was right.
So far, 87% of S&P 500 companies have reported earnings, and corporate profits are expected to decline by 7.1%. This will mark the first time since the 2008 global financial crisis that we have seen four straight quarters of negative earnings growth.
But it won’t end here…