The US stock market’s quarterly earnings period has now come to a close, and in summary it can be seen that profits overall rose by 4.3%. However, excluding the top seven well-known companies, the rest of the market shows a decline of around 2%, confirming the fifth consecutive quarter of profit contraction for 99% of listed companies. All this is happening against a ‘official’ backdrop of economic growth, rising consumption, full employment and generalised price increases by Corporate America.
Too many things don’t add up…
Photo Credits: Nik Shuliahin – Unsplash
Click here to read the in-depth study by Maurizio Novelli, Lemanik’s Italian stock manager: https://urly.it/3_x90
Maurizio Novelli
With more than 35 years of experience in portfolio management and proprietary trading, Maurizio Novelli trained at the International Financial Program at Princeton, with an MBA in International Finance and a Master in Economics at Bocconi University. In 2007 he launched one of the first Luxembourg UCITS funds with a Global Macro strategy, of which he is currently the Senior Portfolio Manager, boasting one of the longest track records in the asset class. In-depth knowledge of global macroeconomics and international monetary economics are the cornerstones of his portfolio management. Maurizio is Vice Chairman of Lemanik Invest SA and has been a member of the ASG (Swiss Association of Asset Managers).
