22% of the Q1 earnings season (by market cap) is over, and anyone listening merely to soundbites and reading media headlines would likely think that stocks have soared as a result of a relentless parade of beats. One would be mistaken. In fact, as the chart below shows, there is something very wrong with this earnings season...
Well isn't that special: the average return of all companies beating both the top and the bottom line three days after the report is... down 1.2% (less odd is that
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