Reporting Season is now roughly 80% complete (85% for large-caps and 75% for small-caps). Results (and guidance) have continued to come in on the disappointing side of expectations. From a sector perspective, resources have been the standout sector on the positive side. Disappointments have been concentrated in the exresources & ex-banks segment of the market with insurance and telecommunications the weakest sectors.
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David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
