70 percent of the Dow Jones and many on NASDAQ including Microsoft and Apple have warned of not meeting forecast earnings so be prepared for some sobering times for the US earnings season. Everything at the end of the day has to stand up to the reality of fundamentals like return on capital , earnings per share etc. Having higher FUM figures by itself will not cut it, It could go up to about sixty but like APT eventually reality hits. I have never seen momentum buying like this since 2007. It is a great fund though and I would be happy with half the growth actually ten percent a year would do given slower economics growth everywhere.
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