We're 16 years into this bull market cycle and corporate profits are accelerating like it's 2010 again.
$SPY earnings expected up 34% this year, another 15% in 2027. That's 54% profit growth in two years.
This doesn't happen late-cycle. Ever.
Either we've broken every historical pattern (possible with AI reshaping productivity), or the market is pricing in perfection and ignoring how these stories usually end.
I've seen enough cycles to know: when everyone expects the good times to roll forever, that's usually when the music stops.
Stay invested, but don't get drunk on the punch.
$SPY earnings expected up 34% this year, another 15% in 2027. That's 54% profit growth in two years.
This doesn't happen late-cycle. Ever.
Either we've broken every historical pattern (possible with AI reshaping productivity), or the market is pricing in perfection and ignoring how these stories usually end.
I've seen enough cycles to know: when everyone expects the good times to roll forever, that's usually when the music stops.
Stay invested, but don't get drunk on the punch.