Looking for tax-loss season bargains for 2023 and beyond: Berman
BNN Bloomberg
Larry Berman takes a bigger picture look at where the bargains might be for longer-term growth investors and what he is looking to accumulate into the next period of weakness for global equities.
They come in handy this time of year for tax-loss selling bargains. This week in our weekly webinar, we take a bigger picture look at where the bargains might be for longer-term growth investors and what we are looking to accumulate into the next period of weakness for global equities.
It should not surprise anyone that we are expecting a recession in 2023 and that the earnings outlook for the market does not reflect this high probability outcome. Our first chart shows the current S&P 500 (YTD) with the 2023 expected earnings per share (EPS) bottom up consensus. From the $206 in earnings in the bank in 2022, it shows a 14 per cent growth from here. On what planet does that make any sense at all if the recession call is even remotely close? Forget the U.S. Federal Reserve pause, there is a gross mispricing here.
