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Posts Tagged ‘financial sectors’

Ambulance Chasing on Wall Street

Posted by Larry Doyle on April 12th, 2010 10:58 AM |

What is driving our markets higher? A rebound in earnings along with a rebound in the economy, correct? Well, let’s take a quick look at corporate earnings.

Thanks to our Sense on Cents Hall of Famer and resident Economic All-Star David Rosenberg, we learn this morning that:

Financial sector profits have accounted for 85% of the overall increase in corporate earnings.

When I read this, I immediately think of the market akin to that gutless driver who jumps behind an ambulance as it screams down the street. Who is in that ambulance? Main Street. Who is in that car getting the ‘free ride’? Wall Street. (more…)






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