The C-suite struck an optimistic tone on earnings calls last week. While almost every management team mentioned macroeconomic uncertainty, most executives (outside of the energy sector) were pleased with business conditions. They were even positive on the environment in China. But it's a little hard to believe that everything is business as usual.
The first full week of earnings season is always filled with reports from the nation's banks. Banks typically give the best read on the economy of any industry and for now they sound relatively upbeat. Outside of energy, credit has remained strong and management teams are optimistic about prospects for loan growth. Still, there's reason to be skeptical.
Modern life requires us to process an ever increasing load of information. For those in the financial markets, earnings seasons turn that daily data deluge into a full-on tidal wave.
Chief among investors' qualitative concerns are the honesty and character of management. When character meets communications you have candor. Rittenhouse Rankings is a company that ranks business candor and its results are predictive of future stock performance.
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