Will the 2015 stock market look just like 2014? What Earnings Call Forensics™say about profits, growth, and returns.

• Earnings Call Forensics™ provide proprietary management sentiment signalsthat strongly suggest continued earnings improvement through efficiencies and cost-cutting, thereby supporting a sustained Return On Assets that are at 60-year high levels.
• These signals also imply a strong reluctance by management teams for growth initiatives of virtually any kind. We will see abysmally low business re-investment rates, fewer capital expenditures, and low asset growth in general. Cash will go to share buybacks yet again.
• Combined, these support market returns in the 10% to 20% range simply on stable earnings