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Most of the misbehaviour seems to be related in some way to the huge incentives Wall Street provided in the past decade for reporting rising earnings quarter after quarter (or rather, earnings that exceeded ever-rising expectations).
Worrisome, too, is the quality of the rising earnings.
But rapidly rising earnings masked huge cost increases, particularly in fuel and wages.
The latest period will be the fifth consecutive half-year of rising earnings.
At the same time, faster economic growth and rising earnings camouflaged the cost of these indulgences.
To choose the roughly 70 stocks in the portfolio, he looks for promising indicators like catalysts for rising earnings.
Easy credit conditions, collapsing oil prices and rising earnings mean that 2015 will be a good year for UK consumers.
Some investors said rising earnings at companies including 3M and Lexmark International might help sustain the gains.
"I look for companies with good near-term business dynamics, like rising earnings, new products or stock buybacks.
Glaxo reiterated yesterday that new products would fuel double-digit sales growth and rising earnings next year.
In his empirical research, he studies how wage stagnation and rising earnings inequality result from weakening labor market institutions, changing market power, and job restructuring.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com