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Podcast: Money Life with Chuck Jaffe
Episode: JMK's Mills: Earnings haven't declined, but 'it makes sense that they should'
Description: Karl Mills, president of Jurika Mills & Kiefer, says that negative investor sentiment is a precondition of a rebound, but he's looking for more signals that the economy and stock market is bottoming out. For example, Mills says that earnings haven't declined much yet, but he expects them to because of the squeeze that current conditions are putting on profits. The result is that Mills is taking a cautious, "shelter from the storm" approach, noting that there is still a lot of downside risk even though the market can see and already price in the coming recession he sees as...