Citi On Q3 Earnings: Beats The Result Of One-Time Factors, Not GrowthVW Staff
Citi Research analysts Tobias M Levkovich, Lorraine M Schmitt and Christina Wood look at stock prices in the context of the real quality of recently reported earnings, earnings guidance and a liquidity-based rally, and sound worried in their report “Unsettling Disconnects” of October 25.
LMNOP = “Liquidity, Momentum, Not Operating Performance”
Citi observes that with the ‘tapering’ threat now in cold storage, and the debt ceiling issues kicked down the road, investors are trading markets higher . . .
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