The S & P 500 is down 18.8% from its highs. Most experienced technical analysts are suggesting there is likely to be a further decline at least 15%. This view is because the market professionals cannot see anything but an earnings compression in the US on the back of falling demand caused by rising prices (inflation) and interest rates. Now because the demand for consumer staples does not decline on the back of a recessionary context, contrary to the broader market consumer staples grow in value during the period of a general earnings compression. Sorry thats the S&P declined 5% over a 3 year period for part of that time the decline was much larger. Now A2 is a classic consumer staple, and it has no debt and a bucket of cash, and is trading at multiples the lowest for many many years. Where do you think the big boys will rotate to? Blackrock is the first of many to come in the next few months.
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