Down goes the Dow

OK, please explain your position in detail without unnecessary words or comments.

My position is that you actively avoided answering my questions.

Restate your questions in a mature respectful manner and I will answer.

Obviously it was stated that way initially. You are avoiding the question because you are embarrassed by the subject manner, albeit indirectly. Your angst and self-loathing is a direct consequence of your inability to face these demons within you. This is basic human nature, so you are not the first to suffer like this. But we know that you can find peace - and so can your family - if you face the music. Do it for them!

Apparently you are too immature and unkowledgeable to state anything of consequence.

I find that to be an interesting response given your behavior in this discussion. It's almost as if you were talking to yourself. I actually believe this may be a breakthrough in that you are indirectly admitting to your inability to open up about your poor self-image. Please keep talking. I promise to keep listening. Blessings.

I trust you realize I know who you are and I have been jerking your chain for hours.

You are a sorry fool Detector Dude.

Okay, that was a step backward, but worthwhile progress is not always linear. I can tell from your previous post that there is hope for you and that we may be very close to a breakthrough. Please continue to assess your feelings and be honest with yourself. You are a good person and people should know that. Stay the line.

Ghost of Igloi wrote:

idiot investor wrote:

Wow. So it really is different this time. Thanks for that.

Your reading comprehension is poor or your handle fits, perhaps both.

My reading comp is fine. Did you read it? He def talks about the changes to what had been expected historically.

Igy is notorious for not reading beyond the headline. He just assumes he knows what the rest of the article says. It's similar behavior to what he does here when he makes up stuff about other posters.

So says the Grandfather of Trolls.

Gruntz wrote:

Igy is notorious for not reading beyond the headline. He just assumes he knows what the rest of the article says. It's similar behavior to what he does here when he makes up stuff about other posters.

Leave my grandchildren out of this. I don't insult your family.

Earnings Scorecard: As of today (with 95% of the companies in the S&P 500 reporting actual results for Q1 2017), 75% of S&P 500 companies have beat the mean EPS estimate and 64% of S&P 500 companies have beat the mean sales estimate.

Earnie gets his data from FactSet which uses non-GAAP EPS in its reporting. Interestingly FactSet highlighted this piece as "Topic of the Week." from the 5/19/2017 report.

Did DJIA Companies Report Higher Non-GAAP EPS in Q1 2017?

"While all publicly traded U.S companies report EPS on a GAAP (generally accepted accounting principles) basis, many U.S. companies also choose to report EPS on a non-GAAP basis. There are mixed opinions in the market about the use of non-GAAP EPS. Supporters of the practice argue that it provides the market with a more accurate picture of earnings from the day-to-day operations of companies, as items that companies deem to be one-time events or nonoperating in nature are typically excluded from the non-GAAP EPS numbers. Critics of the practice argue that there is no industry-standard definition of non-GAAP EPS, and companies can take advantage of the lack of standards to exclude items (more often than not) that have a negative impact on earnings to boost non-GAAP EPS.

As of today, all of the companies in the Dow Jones Industrial Average (DJIA) have reported actual EPS for Q1 2017. What percentage of these companies reported non-GAAP EPS for Q1 2017? What was the average difference and median difference between non-GAAP EPS and GAAP EPS for companies in the DJIA for Q1 2017? How did these differences compare to recent quarters? For Q1 2017, 19 (or 63%) of the 30 companies in the DJIA reported non-GAAP EPS in addition to GAAP EPS for the first quarter. Of these 19 companies, 15 (or 79%) reported non-GAAP EPS that exceeded GAAP EPS. Over the past four quarters (Q1 2016 – Q4 2016) on average, 68.3% of the companies in the DJIA reported non-GAAP EPS in

addition to GAAP EPS and 79.3% of these companies reported non-GAAP EPS that exceeded GAAP EPS.

For Q1 2017, the average difference between non-GAAP EPS and GAAP EPS for all 19 companies was 53.6%, while the median difference between non-GAAP EPS and GAAP EPS for all 19 companies was 13.7%. Over the past four quarters, the average difference between non-GAAP EPS and GAAP EPS was 90.8%, while the median difference between non-GAAP EPS and GAAP EPS was 11.9% Thus, slightly fewer companies in the DJIA reported non-GAAP EPS in Q1 2017 relative to the average of the past four

quarters. However, the percentage of companies that reported non-GAAP EPS above GAAP EPS for Q1 2017 was consistent with the average over the past four quarters. The average difference between non-GAAP and GAAP EPS for Q1 2017 was below the average over the past four quarters, while the median difference between non-GAAP and GAAP EPS in Q1 2017 was above the median of the past four quarters."

You yourself said "actual results" means GAAP. So there.

No, that is you twisting, and conveniently missing the implication of:

"Over the past four quarters (Q1 2016 – Q4 2016) on average, 68.3% of the companies in the DJIA reported non-GAAP EPS in addition to GAAP EPS and 79.3% of these companies reported non-GAAP EPS that exceeded GAAP EPS."

Seems relevant - study showing how risky it is to 'wait for a crash' before investing.

the catch is that it ends in mid 2016 - after a 9 year bull market the buy and holders look brilliant.

after a 50% fall they don't look so smart.

but still, if we are investing based on odds, the oddds of outpeformance by keeping cash ready for a crash...is not wise.

http://svrn.co/blog/2017/5/14/waiting-for-the-market-to-crash-is-a-terrible-strategy

Those odds should be evaluated against this backdrop:

1. Current Bull Market second longest in history at 99 months, the longest is 114 months 10/1990-3/2000

2. CAPE 10, Q-Ratio and Buffett Indicator at two-sigma thresholds

3. Profit margins at record highs

4. Margin debt at record highs

5. Corporate organic growth lags, while stock buybacks financed through corporate debt drives EPS growth

Ghost of Igloi wrote:

No, that is you twisting, and conveniently missing the implication of:

"Over the past four quarters (Q1 2016 – Q4 2016) on average, 68.3% of the companies in the DJIA reported non-GAAP EPS in addition to GAAP EPS and 79.3% of these companies reported non-GAAP EPS that exceeded GAAP EPS."

Are you suggesting that you didn't say "actual results" are GAAP?