MARKETWATCH - John Cunnison Comments on Bleak Q1 Earnings Projections
Baker Boyer VP and Chief Investment Officer, John Cunnison, is quoted in this MarketWatch article which discusses how investors are bracing for possibly the worst Q1 earnings report since 2008.
Article excerpt: Investors also are bracing for the worst quarter for earnings since the 2008 financial crisis, unsurprisingly due to closures in response to the COVID-19 pandemic. Results this year for the first quarter are on track to decline 14.5% from a year ago, according to John Butters, senior earnings analyst at FactSet, which would mark the biggest decline since the 15.7% plunge in the third quarter of 2009.
“The skeptical folks are saying: How much further do we have to go for prices to reflect the economic data we are likely to see?” said John Cunnison, chief investment officer at Baker Boyer in Washington. “But if we look back at this moment in three years, it probably will look like a fairly attractive place to buy.”