New Constructs' Value in 60 Seconds: Watch out, the market is getting things wrong

23 Jun 2023 · 1 min

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This content was created by David Trainer. This content was uploaded by David Trainer. This is a YouTube video titled "New Constructs' Value in 60 Seconds: Watch out, the market is getting things wrong" (published 2023-06-23). The excerpt is a short, single-speaker market commentary warning that recent market optimism is misplaced — citing debt-ceiling relief, misplaced expectations of Fed rate cuts, and rising manipulation in corporate earnings (noting a Wall Street Journal article and the publisher's report showing core earnings down while reported earnings rise). The clip appears to be a brief investment/market analysis from New Constructs.

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It's a perfect storm. 3 things: the debt ceiling relief, a rally around that when it was a non-event. Number 2, you've got people underestimating Fed policy. They're expecting the Fed rate cut and that things are all hunky-dory there, and I don't think that's going to happen. But the biggest and most important thing, the manipulation in earnings is on the rise. There was a Wall Street Journal article last week, but prior to that, we published our report showing that core earnings are down on a trailing 12-month basis while reported earnings are showing a rise. That is a great example of where the market is getting things wrong and people need to watch out.