Analysts Are from Venus; Investors Are from Mars

Check out the accompanying pdf and chart collection. Executive Summary: Industry analysts are accentuating the positives of inflation; they’ve been raising their revenues and earnings estimates in response to it all year long. Investors are accentuating the negatives of inflation; they’ve been dropping how much they’re willing to pay for estimated earnings all year long. A recession would prove the investors right, but that’s not our expectation. … We see stagflation ahead, with a slowly expanding economy and slowly moderating inflation. … And: Melissa recaps the UN FAO’s disconcerting analysis of Ukraine war impacts on global food inflation and hunger. … Also: How certain recent Biden administration actions may unwittingly exacerbate both.