With 97% of S&P 500 earnings reports in, Q3 looks likely to finish at 2% year over year growth, the weakest since the height of the pandemic. According to analyst estimates, Q4 will be the first negative quarter since 2020, with profit growth going to negative 2%. As recently as June, the analysts’ expectation for Q4 was positive 9% growth. Expectations for ‘23 are still at plus 5% earnings growth. Chart via @wsj
Absolute classic. Calls boss an idiot from inside, gets sacked, moves to Apple, similar gig, calls the same dude an idiot from outside. Lolz Cc @mmasnick **Edit:** guy is apparently a joker & has worked at neither firm. Still, funny as hell. Tks @edwellbrook for the heads-up on this—yes missed your earlier note. 🙏
Visited the Mechanic’s Institute in SF the other day. Intertwined with the history of the city. Famous Chess club and sanctuary for SF writers. Surprised the spiral staircase hasn’t been in a movie!
I came back to the Bay after visiting my all time favorite spot - picture 1 . I was walking in a hospice thrift store, a few days later, and found a low res gallery wrapped picture of the same spot. I had to buy it and paint on top of it. It makes me feel good to honor an unknown someone who is no longer here.