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By Olivier GOEMANS, Head of Investment services and innovation, Banque Internationale Luxembourg
Over half of the companies in the SP 500 have reported results for the first three months of 2020 by now. Here are our key takeaways.
GUIDANCE: The blind leading the blind
During this earnings season which collided with the coronavirus crisis, CEOs and CFOs have proven to be just as much in the dark as anyone, with the majority of companies withdrawing forward guidance. No one knowns when the rate of new infections will peak or how long the development and deployment of a vaccination will take. Until the epidemiological factors are known, it is fruitless trying to make accurate economic projections. This means...
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