Wall Street Hockey Sticks—-More Kindling For The Bonfires Ahead

Exactly 22 months ago the consensus estimate for Q4 2016 LTM earnings of the S&P 500 was $126.50 per share on a GAAP basis. A year latter it was down to $111.50, while by mid-October the street "consensus" had slipped further to $101.40 per share. And with the Q4 earnings season now underway it stands at just $97.68, according to Howard Silverblatt who is the S&P data guru on these matters.
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