Robert Barbera Quotes
Traditionally, the stock market does well in the first year of recovery because you have a sharp rise in productivity and moderating wage demands, so unit labor costs plunge and profits grow rapidly. All the data tell you that is happening. What's weighing on the market is the recognition that the last three years' earnings were largely created by clever accountants rather than strong fundamentals. 
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Traditionally | Stock | Market | Year | Recovery |
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Faltering U.S. new home sales, reflecting shrinking housing affordability, call into question the notion of another year above-trend growth for U.S. consumer spending and real gross domestic product.
- Robert Barbera
Traditionally, the stock market does well in the first year of recovery because you have a sharp rise in productivity and moderating wage demands, so unit labor costs plunge and profits grow rapidly. All the data tell you that is happening. What's weighing on the market is the recognition that the last three years' earnings were largely created by clever accountants rather than strong fundamentals.
- Robert Barbera