Given that I am a macro investor I look at cues to explain aggregate profits of all firms of the market. Individual firm’s profit is a produce of how well it runs its operations and how it is able to out-compete others in creating good products at low cost with good sales and distribution strategies. Assessing all these parameters is the job of my

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In the US, the hourly wage increased by 91% between 1948 and 1972 almost one-for-one with productivity growth at 97%; between 1973 and 2013, it only grew by 9%, against a 75% growth in productivity.64 It’s quite clear where the productivity gains went: between 1978 and 2013 average US salaries increased 12% in real terms, while those of CEOs increa

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