This diagram displays the future of corporate profits.
Profit margins are probably the most mean-reverting series in finance, and if profit margins do not mean-revert, then something has gone badly wrong with capitalism. If high profits do not attract competition, there is something wrong with the system and it is not functioning properly.
Jeremy Grantham
![The Future of Corporate Profits diagram The Future of Corporate Profits diagram](https://investor.fm/wp-content/uploads/2006/02/The-Future-of-Corporate-Profits-diagram.jpg)
0 comments