PVG – Loss Averse Equity Income – Monthly Update (April 2015)
- PVG Admin
- April 10, 2015
We strongly believe that yield oriented stocks are coming back into favor as income from the higher yielding stocks now far out paces the earnings growth of the S&P 500. For the first quarter of 2015 earnings estimates are expect to be down -4.9%, and for all of 2015 earnings for the S&P 500 are currently expected to be up just 2.2%. We believe earnings for the S&P 500 will likely be negative for the year, and that the consensus is still too high. The expected yield of our portfolio is currently approximately 4.3%. In 2014, earnings grew at 5.0% for the S&P 500, very slow growth. Earnings have been decelerating.
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PVG – Equity Income Monthly Update (April 2015)