From Macquarie on equity market performance in May:
The S&P/ASX300 Accumulation Index returned +0.4% in May (CYTD +9.0%), with Resources (+0.6%) and the Market ex Res (+0.4%) posting similarly modest gains. The Banks sector (-3.2%) was the notable underperformer for a second consecutive month amid ongoing capital concerns, with Retail (+5.8%) and Div Fins (+4.3%) the clear positive standouts.
Anyone see a pattern in those EPS forecasts over the years? Only 2010 over-achieved and only three out of eight years delivered EPS gains. I’d be willing to bet that this is the worst performance in at least thirty years. Expect the same for 2016 when iron ore drops later in the year.
That’s why the stock market has gone nowhere for 7.5 years.