The S&P 500 is Booming, So Why Is the Stock Market Shrinking?
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By CCN: The S&P 500 is having a blistering run in 2019. As of May 28, the large-cap stock market index is up 13.5 percent and shows minimal signs of slowing down. One equity analyst, however, isn’t buying that the rise is organic. He believes the stock market is shrinking and has actually contracted by 2.3 percent since 2018. Citigroup’s Chief Global Equity Strategist, Robert Buckland, “crunched” the numbers and ultimately blames the decline on share buybacks and mergers and acquisitions (MA). Bloomberg’s Tracy Alloway fittingly describes the idea as the “incredibly shrinking stock market“: “Share buybacks and MA are
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