Morgan Stanley’s (Eccentric) Equity Strategist Adam Parker looks at the world through a traditional value investors view point and wonders how markets are determining price levels. With nearly three quarters of the market capitalization reporting second quarter earnings, he notes the positive trends but then questions a key relative value point. His conclusion is in part seen in the headline of the August 1 report titled “Do Corporate Earnings Actually Matter?” (nothing to do with the Federal Reserve). This leads Parker and his team on a circuitous route to determine sector exposure recommendations. Increasingly corporates are giving weaker forward guidance…
Morgan Stanley Asks "Do Corporate Earnings Actually Matter?"
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.