CHART OF THE DAY: Old Wall Forecasting → Very Confused

But the Old Wall, in all of its forecasting glory, is confused on that front, very confused:

1. As you can see in the Chart of The Day, Old Wall Consensus estimates imply EPS ramps to +4-5% in 1H of 2020
2. I’m assuming that’s because they’re assuming the current guide downs on Q4 to -2% y/y is the “bottom”

Embedded in that Old Wall estimate of +4-5% EPS growth is SALES growth re-accelerating to +4-5% in 1H 2020. Do you know what SP500 SALES growth #slowed to in Q4 of 2015? A: down -4.0% year-over-year for SP500 companies in the aggregate.