US MSCI contraction 0314

US MSCI Operating Profits Contract For First Time Since 2010

Before the fourth quarter earnings reports started rolling in, Societe General analyst Andrew Lapthorne warned that investors were in for a surprise and that profits growth wasn’t nearly as strong as people were expecting. Now that the results are in, and net income was up 14% for the S&P 500 (INDEXSP:.INX) (12.8% ex-financials), you’d be forgiven for expecting Lapthorne to be eating his words. In fact, he stands by them.
2012 write-downs distort 2013 reporting
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