此文可以搭配參考我先前寫的「It's better to have more cash in your investment pile in the future two years. (https://wp.me/p9ffS3-BL)」
我的看法：
The overall earning growth slowing down could mean:
1. the marginal productivity of the capital is starting to decrease, or;
2. the war trade does increase the overwhelming social costs.
Either one is not a positive signal for future income anticipates, which will impact the price of the stocks.
On the other hand, the M&A market could just break its historical records, and I won't take it as a healthy phenomenon.
Otherwise, people should always pay attention to the rate-increasing pace of the Fed. It's all related.
quote:"Still, even those who remain relatively optimistic about the U.S. economy caution that decelerating earnings growth could start to take its toll on the market."
https://www.wsj.com/…/the-bull-markets-next-test-slower-ear…
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