AMDK say Moment of Dua Kee liao is just around the corner, kym?

[k1976]

The former chief North American economist at Merrill Lynch questioned why the stock market was pricing in a 10% rise in corporate earnings next year when the Fed only expected nominal economic growth of 3.8% in 2024.

https://markets.businessinsider.com...-stock-market-outlook-crash-recession-2023-12

 

[k1976]

A company's stock is typically valued at a multiple to its earnings per share, which tends to be correlated to GDP, as businesses produce goods and services that contribute to a country's output and typically generate more sales and profits when the economy is growing.

"There is no recession risk at all embedded in equity valuations," Rosenberg said in a research note on Thursday, emphasizing that he believed stock investors were too optimistic about what's ahead.

 

[k1976]

Rosenberg also cautioned on X that the Fed's forecast of slower GDP growth next year implied a 90% probability of recession. He explained that his team expected inflation to plummet below 1% next year, making 3.8% nominal growth "very difficult to achieve" and closer to 2% more realistic.

"From my lens, given what the monetary policy lags imply and the withdrawal of fiscal stimulus means for real GDP growth for 2024, we are likely talking about real growth of no better than +1.0% and quite possibly zero," he said in a note to clients.

"That is rare but not unprecedented: we saw this in 1949, 1954, 1958, 2008, and 2009 — all recessions," he said. "Maybe the odds are 100% instead of 90%."

"What was delayed in 2023 shall not be derailed in 2024," he added.

 

[k1976]

Rosenberg has been sounding the alarm on a stock-market crash and recession for years, going as far as comparing the current situation to the dot-com and housing bubbles. But stocks have surged this year, and the economy has proven surprisingly resilient, defying his dire predictions.

 

[k1976]

Is this another cry wolf?
To scare away potential savvy Big Boss Investors?

 

[k1976]

A wise man say...掩耳，盗铃

 

[k1976]

https://www.cnbc.com/2023/12/15/citigroup-employees-told-they-can-work-remotely-until-new-year.html

Citigroup employees, on edge over layoffs, told they can work remotely until the new year​

PUBLISHED FRI, DEC 15 202312:39 PM ESTUPDATED FRI, DEC 15 20234:10 PM EST

Hugh Son@HUGH_SON
WATCH LIVE
KEY POINTS

• Citigroup told most of its employees that they can work remotely the final two weeks of December, CNBC has learned.
• Workers can log in remotely from anywhere in their country of employment from Dec. 18 to Dec. 29, according to people with knowledge of the situation.
• The policy applies to hybrid workers, which make up the majority of the bank’s 240,000 employees, said the people, who declined to be identified.

 

[k1976]

The policy applies to hybrid workers, which make up the majority of the bank’s 240,000 employees, said the people, who declined to be identified.

Unlike last year, when the perk was introduced, employees are on edge over CEO Jane Fraser’s sweeping corporate reorganization, and some expressed concern over whether their jobs will still exist next year. Citigroup has said that Fraser’s review of the third-biggest U.S. bank by assets will be complete by the end of March.

The project, known internally by its code name Bora Bora, has already resulted in executive departures and the shuttering of the firm’s municipal bond business. Citigroup will disclose severance expenses tied to the project in January and again in April, the bank has said.

“This past year has been one of significant change across the firm, and as we approach the end of 2023, we look forward to this special time of year,” Citigroup’s human resources chief said last week in a staff memo announcing the remote policy.

“We hope that you will enjoy a break from commuting while continuing to stay focused on closing out the year,” the HR chief said.