Since S&P 500’s October 2022 low, forward P/E (blue) is up 37.1% while forward EPS (orange) are up 8.4% pic.twitter.com/pvRQuC7zjA

Stagflation Short basket from ⁦@GoldmanSachs⁩—consists of companies that would typically underperform in stagflationary environment—has impressive gain this year but hasn’t yet reached its 2021 high [Past performance is no guarantee of future results] pic.twitter.com/WGoZL4wSRb

Including dividends, the S&P 500 is up 12.2% in 2024, well above the +4.5% average gain since 1990 at this point in the year. bilello.blog/newsletter pic.twitter.com/vEZLFMkcky

S&P 500 is up 11.6% in the first 98 trading days of 2024, the 19th best start to a year going back to 1928. $SPX bilello.blog/newsletter pic.twitter.com/oTDcFsadsa