Profit Margins, Normal?

I’m going to have to read this one a few more times…but talks to the common belief that profit margins are too high and should mean revert (and argues people are mis-measuring them).

Chart and download




Mean Reversion


Get a Free Subscription!

If you send me an email with a link or attachment to a piece you think readers would love, and I use the piece, I will happily give you $100 off your subscription.  This is worth a free quarter of the Farm at current levels.

Send all emails to with “RESEARCH” in the subject line.