Mott Capital 2017 Q3 Investor Letter

"Earning began turning higher following the second quarter of 2016, at which time the earnings on the S&P 500 over the trailing-twelve-months stood at $86.92. According to S&P Dow Jones Indices, since bottoming in mid-2016, the S&P 500 earnings are expected to surge by 51 percent, reaching $131.23 for the full year 2018.