Is Mr. Market setting up a big "sell the news' moment?
Many US corporations are pulling most of their earnings from outside America. Is that a good thing?
According to figures assembled by FactSet, information technology companies in the S&P500 draw 54 per cent of their revenues from outside America, up from 42 per cent a decade ago...As Richard Haas, head of the Council for Foreign Relations, says. "More and more American companies have passed a tipping point where more than half their earnings comes from outside America." [Source: Financial Times]
Arguably longer term this may be a good thing, assuming China and emerging markets growth remains on track (everybody's bet of course...hmm). But in the long run we will all be dead. Our concern now would be this...
Market Vitals | 13 August 2012 [http://blackswantrading.squarespace.com/storage/market-vitals/081312_mv_waitandsee.pdf] ~ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
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