Below is an excerpt from today's Early Look by Hedgeye CEO Keith McCullough:
...[A]s a friendly reminder to those of you who didn’t know, I got fired for being “too bearish” on November 2nd, 2007. By the end of that month, the almighty SP500 was down over 6%, on the way to an almost 60% peak-to-trough crash.
...On that score, as of last night’s close, 360 of 500 companies in the SP500 have reported the following:
- Revenues down -5.1%
- Earnings down -4.2%