The S&P 500 closed at an all-time high yesterday. However, the jaw-dropping world-wide bull market belies the expectations for growth in global GDP and stock market earnings. "The 25% rally in global equities from last June seems to be driven by a growing conviction that the worst is over and tail risks are fading," wrote Morgan Stanley's Gerard Minack in a research note last week. "This, so far, is not about pricing in a notably stronger eco ...
http://www.businessinsider.com/growth-earnings-forecasts-are-falling-2
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