EPS *growth* has peaked in this cycle, but not EPS.
Response: As usual analyst are over optimistic, rising labor cost, and cost of capital is already affecting margins. I would expect revisions like AAPL to continue.
What stocks will replace FAANG? Who knows? That's the nature of the stock market. And they may not even need to be replaced - they still have earnings growing massively, last time I checked.
Response: Impossible for the market caps of FAANG to be replaced this cycle. AAPL just said their earnings will be below same quarter a year ago. Facebook the same and AMZN and NFLX have already slowed.
Global economy is not in decline - it is growing, albeit slower.
Response: OK, but it is trending down.
Charts don't look good until they do look good.
Response: Well the charts don’t look good and they will inevitably get worse. It is cyclical.
I could give you a dozen stats that show buying when EPS is growing and PE ratios are falling and stocks are down 15% is as sure a bet as there is in the stock market.
Response: OK, but it will go much lower than -15% and valuations will mean invert.