Sorry that we have to repeat this message - but the key reason to remain cautious is that the CREDIT CRUNCH FOR CORPORATES IS ONLY JUST STARTING… https://t.co/Az3XnJb72C
One ‘reality check’ on the current state of the US market… Price / Book is a good way to check on the state of markets. In the US there are few sectors that are below their 10yr (or 30yr averages)… and most are well above trough valuations. https://t.co/SNtesLW4Qe
This chart goes back to the 1960s and shows that the #CREDITCRUNCH for the CONSUMER will get really tough in the coming year…making it hard for sales to keep driving earnings and margins… https://t.co/GfAjpOSqVR
