Corrosion of Conformity

Fly Charts: Breaking Out the Earnings Polish

From fighting Vanguard to ignoring OPEC, here are four charts that tell you what you need to know in business today.
Photographer: Sascha Schuermann/Getty Images

Good morning! This is Fly Charts, the daily charts-only newsletter from Gadfly; sign up here. From fighting Vanguard to ignoring OPEC, here are four charts that tell you what you need to know in business today.

Earnings Polish

Earnings adjustment has become rampant, companies that do it tend to show highly buffed bottom lines, and the SEC isn't doing much about it.

Source: FactSet

 

Involuntary Cuts

The market just isn't buying OPEC's assurances that it can restrain output and rebalance the oil market.

Source: Bloomberg

Goldilocks Economy

The commodities market has become shockingly boring, but such stretches of calm don’t last forever.

Source: Bloomberg

Place Your Bet

Until the fund industry starts getting better at balancing investor outcomes and their own profits, Vanguard will continue to dominate.

Sources: Morningstar, Vanguard

Note: Annualized return for institutional share classes through April 2017.

And don't miss Chris Bryant on Donald Trump's German auto tirade: "Let's leave aside basic economics for a second, which is pretty clear about the advantages for a country in specializing in an industry. If selling lots of cars is somehow a hallmark of low morals, the Germans are unquestionably evil."

This column does not necessarily reflect the opinion of Bloomberg LP and its owners.

    To contact the author of this story:
    Max Nisen in New York at mnisen@bloomberg.net

    To contact the editor responsible for this story:
    Mark Gongloff at mgongloff1@bloomberg.net

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