Great. Thinking about EPS, calculating scenarios and putting it in relation to index levels by using different multiples makes a lot of sense.
I assume those first estimates and scenarios are still very rough estimates with a very low confidence of accuracy or did you find ways how to connect/translate your mild recession scenario to actual EPS estimates?
It’s worth mentioning that some analysts like Yardeni started to cut their targets but his estimate is still at $260 for 2025.