{"id":204006,"date":"2024-03-28T11:15:00","date_gmt":"2024-03-28T15:15:00","guid":{"rendered":"https:\/\/ibkrcampus.com\/?p=204006"},"modified":"2024-04-02T15:05:22","modified_gmt":"2024-04-02T19:05:22","slug":"imagine-if-we-could-annualize-this-quarter","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/stocks\/imagine-if-we-could-annualize-this-quarter\/","title":{"rendered":"Imagine If We Could Annualize This Quarter\u2026"},"content":{"rendered":"\n<p>Many years ago, a very intelligent and experienced colleague made a classic mistake about annualization.&nbsp; We made a tweak to our trading model in the hope that this minor change would yield marginally better daily trading results.&nbsp; And on the first day, it worked even better than we\u2019d hoped.&nbsp; I don\u2019t remember the exact figures, so let\u2019s say that we made an extra $10,000 on the first day.&nbsp; My colleague said, \u201cthis is amazing.&nbsp; If we make an extra $10k per day, that will be about $2.5 million per year.\u201d&nbsp; I hated being \u201cthat guy\u201d, but I reminded him that his new estimate was over-optimistic.&nbsp; We had no expectation that the daily improvement would be anywhere close to that profitable, and that if the change was indeed that meaningful, the rest of the market would adapt.&nbsp; Unfortunately, I was correct.&nbsp; The tweak was just that \u2013 a solid and necessary, but marginal improvement.&nbsp;<\/p>\n\n\n\n<p>Today, on the final day of 2024\u2019s stellar first quarter, I reminded myself about that discussion about annualization.&nbsp; We\u2019re in the midst of a synchronized, global rally in risk assets with many <a href=\"\/campus\/traders-insight\/securities\/stocks\/dont-sleep-on-global-stocks\/\">key equity indexes at or near all-time highs<\/a>.&nbsp; For reference, here is a table with year-to-date performances for several key indicators:<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"282\" height=\"349\" data-src=\"\/campus\/wp-content\/uploads\/sites\/2\/2024\/03\/Picture1-28.png\" alt=\"Index Q1 Performance\" class=\"wp-image-204007 lazyload\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 282px; aspect-ratio: 282\/349;\" \/><\/figure>\n\n\n\n<p>Even \u201cuninvestable\u201d Mainland China managed to eke out a gain, though the far more accessible Hong Kong benchmark was one of the few sporting a loss.&nbsp; There are days when it feels like we\u2019re never going down again.&nbsp; The mysterious 0.5% rally in SPX during the last half-hour of yesterday\u2019s session certainly added to that sense.&nbsp;<\/p>\n\n\n\n<p>Heck, what\u2019s not to like?&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The economy is humming along.&nbsp; The FOMC projects a 2.1% rise in real GDP for 2024, and this morning\u2019s final read of 4Q real GDP was 3.4% &nbsp;<\/li>\n\n\n\n<li>The unemployment rate, despite a recent rise, remains an enviable 3.9%<\/li>\n\n\n\n<li>Inflation, despite being above the Fed\u2019s 2% target, is under much better control<\/li>\n\n\n\n<li>Corporate earnings are solid<\/li>\n\n\n\n<li>Both consumers and investors feel exuberant, with speculation in vogue \u2013 including <a href=\"\/campus\/traders-insight\/securities\/stocks\/meme-stocks-the-sequel\/\">a return of meme stocks<\/a><\/li>\n<\/ul>\n\n\n\n<p>One can of course question whether any rate cuts, let alone three, <a href=\"\/campus\/traders-insight\/securities\/macro\/why-do-we-need-rate-cuts\/\">seem at all necessary<\/a> or even desirable, but questioning that view would once again make me \u201cthat guy.\u201d&nbsp; Thus we find ourselves in the quite enviable position of anticipating an expansionary monetary policy layered on top of an expanding economy.&nbsp; Again, what\u2019s not to like?&nbsp; (The prospect of reigniting inflation, that\u2019s what.&nbsp; But bringing up that idea would again make me \u201cthat guy.\u201d<\/p>\n\n\n\n<p>Late last year, as rate cut hopes far outpaced the three that the FOMC acknowledged, <a href=\"\/campus\/traders-insight\/securities\/macro\/hey-mr-market-tell-me-what-you-want-what-you-really-really-want\/\">we questioned<\/a> how investors could reasonably anticipate both a soft landing AND six or seven rate cuts.&nbsp;&nbsp; As the weeks went on, rate cut hopes faded as it became clear that the economy was on solid footing, allowing companies to show solid profitability.&nbsp; That what was we hoped <a href=\"\/campus\/traders-insight\/securities\/macro\/clues-to-solving-the-markets-key-contradiction\/\">when we wrote in January<\/a>:<\/p>\n\n\n\n<p><em>It is therefore quite difficult, if not impossible, to imagine that we can get double-digit earnings growth and mid-single-digit revenue growth without a decent, if not robust economy.&nbsp; While some of the revenue growth could be achieved if prices rise sufficiently, but that would of course imply that inflation is running above the Fed\u2019s target, muting their ability and desire to cut rates.&nbsp; But if we assume that revenue growth roughly matches GDP growth plus inflation (a big, generalized assumption, to be fair), and inflation falls sufficiently to justify rate cuts, it implies GDP growth of about 2-3%.&nbsp; We\u2019re not likely to get six or seven cuts if the economy grows at anything resembling that pace.<\/em><\/p>\n\n\n\n<p><em>How then do we resolve this paradox?&nbsp; It will require data.<\/em><\/p>\n\n\n\n<p>As it turned out, the data was good.&nbsp; And that is perhaps the best reason for stocks to rally.&nbsp; If given the choice between a solid economy or one that requires stimulation from rate cuts, I\u2019ll take the former every time.<\/p>\n\n\n\n<p>But let\u2019s get back to our original point about annualization.&nbsp; Here are the Q1 market results annualized for a full year at the same pace:<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"263\" height=\"378\" data-src=\"\/campus\/wp-content\/uploads\/sites\/2\/2024\/03\/Picture2-17.png\" alt=\"Index Q1 Annualized\" class=\"wp-image-204008 lazyload\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 263px; aspect-ratio: 263\/378;\" \/><\/figure>\n\n\n\n<p>Does that seem at all sustainable or reasonable?&nbsp; C\u2019mon, be honest, bearing in mind the rallies that most of those markets experienced last year.&nbsp;<\/p>\n\n\n\n<p>Therein lies the problem.&nbsp; It sometimes feels like we\u2019re going to continue to rally steadily and uninterrupted.&nbsp; But common sense tells us that seems impossible.&nbsp; It implies that we will have either a sideways market or even a bit of a correction.&nbsp; But why, and when?&nbsp; &nbsp;The 13 level of VIX implies that the answer to \u201cwhen\u201d is \u201cnot anytime soon.\u201d&nbsp;<\/p>\n\n\n\n<p>Let\u2019s celebrate the end of a highly successful quarter for most investors.&nbsp; But in the spirit of Warren Buffett\u2019s famous admonition, \u201cbe fearful when others are greedy,\u201d it behooves us to consider the \u201cwhy and when\u201d questions raised above.&nbsp; But in the meantime, feel free to dream about annualizing this quarter\u2019s amazing performance.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Many years ago, a very intelligent and experienced colleague made a classic mistake about annualization. Today, on the final day of 2024&#8217;s stellar first quarter, I reminded myself about that discussion about annualization.  <\/p>\n","protected":false},"author":4,"featured_media":182734,"comment_status":"open","ping_status":"closed","sticky":true,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[14700,6,8,9,22,26,3],"tags":[16917,4434,6956,16919,14451,3109,16920,10371,6657,1480,16922,1504,4979,3034,2302,16921,16918,2074,317,3108],"contributors-categories":[13576],"class_list":{"0":"post-204006","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-ibkr-market-insights","8":"category-north-america","9":"category-region","10":"category-securities","11":"category-stocks","12":"category-text-articles","13":"category-traders-insight","14":"tag-annualization","15":"tag-corporate-earnings","16":"tag-data-analysis","17":"tag-equity-indexes","18":"tag-gdp-growth","19":"tag-global-economy","20":"tag-inflation-control","21":"tag-investor-behavior","22":"tag-market-correction","23":"tag-market-rally","24":"tag-market-sustainability","25":"tag-monetary-policy","26":"tag-rate-cuts","27":"tag-risk-assets","28":"tag-speculation","29":"tag-sustainable-growth","30":"tag-trading-model","31":"tag-unemployment-rate","32":"tag-vix","33":"tag-warren-buffett","34":"contributors-categories-interactive-brokers"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Imagine If We Could Annualize This Quarter\u2026<\/title>\n<meta name=\"description\" content=\"Today, on the final day of 2024\u2019s stellar first quarter, I reminded myself about that discussion about annualization.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/204006\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Imagine If We Could Annualize This Quarter\u2026 | IBKR Campus US\" \/>\n<meta property=\"og:description\" content=\"Today, on the final day of 2024\u2019s stellar first quarter, I reminded myself about that discussion about annualization.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/imagine-if-we-could-annualize-this-quarter\/\" \/>\n<meta property=\"og:site_name\" content=\"IBKR Campus US\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-28T15:15:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-02T19:05:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/02\/Businessman-thinking-stock-market-featured-img.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"563\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Steve Sosnick\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Steve Sosnick\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\n\t    \"@context\": \"https:\\\/\\\/schema.org\",\n\t    \"@graph\": [\n\t        {\n\t            \"@type\": \"NewsArticle\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/imagine-if-we-could-annualize-this-quarter\\\/#article\",\n\t            \"isPartOf\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/imagine-if-we-could-annualize-this-quarter\\\/\"\n\t            },\n\t            \"author\": {\n\t                \"name\": \"Steve Sosnick\",\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/person\\\/31988d9596575a63ddc53e92049a2549\"\n\t            },\n\t            \"headline\": \"Imagine If We Could Annualize This Quarter\u2026\",\n\t            \"datePublished\": \"2024-03-28T15:15:00+00:00\",\n\t            \"dateModified\": \"2024-04-02T19:05:22+00:00\",\n\t            \"mainEntityOfPage\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/imagine-if-we-could-annualize-this-quarter\\\/\"\n\t            },\n\t            \"wordCount\": 872,\n\t            \"commentCount\": 2,\n\t            \"publisher\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/imagine-if-we-could-annualize-this-quarter\\\/#primaryimage\"\n\t            },\n\t            \"thumbnailUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2023\\\/02\\\/Businessman-thinking-stock-market-featured-img.jpg\",\n\t            \"keywords\": [\n\t                \"annualization\",\n\t                \"corporate earnings\",\n\t                \"Data Analysis\",\n\t                \"equity indexes\",\n\t                \"GDP growth\",\n\t                \"global economy\",\n\t                \"inflation control\",\n\t                \"investor behavior\",\n\t                \"market correction\",\n\t                \"market rally\",\n\t                \"market sustainability\",\n\t                \"monetary policy\",\n\t                \"rate cuts\",\n\t                \"risk assets\",\n\t                \"speculation\",\n\t                \"sustainable growth\",\n\t                \"trading model\",\n\t                \"unemployment rate\",\n\t                \"VIX\",\n\t                \"Warren Buffett\"\n\t            ],\n\t            \"articleSection\": [\n\t                \"IBKR Insights\",\n\t                \"North America\",\n\t                \"Region\",\n\t                \"Securities\",\n\t                \"Stocks\",\n\t                \"Text Articles\",\n\t                \"Traders' Insight\"\n\t            ],\n\t            \"inLanguage\": \"en-US\",\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"CommentAction\",\n\t                    \"name\": \"Comment\",\n\t                    \"target\": [\n\t                        \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/imagine-if-we-could-annualize-this-quarter\\\/#respond\"\n\t                    ]\n\t                }\n\t            ]\n\t        },\n\t        {\n\t            \"@type\": \"WebPage\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/imagine-if-we-could-annualize-this-quarter\\\/\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/imagine-if-we-could-annualize-this-quarter\\\/\",\n\t            \"name\": \"Imagine If We Could Annualize This Quarter\u2026 | IBKR Campus US\",\n\t            \"isPartOf\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#website\"\n\t            },\n\t            \"primaryImageOfPage\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/imagine-if-we-could-annualize-this-quarter\\\/#primaryimage\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/imagine-if-we-could-annualize-this-quarter\\\/#primaryimage\"\n\t            },\n\t            \"thumbnailUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2023\\\/02\\\/Businessman-thinking-stock-market-featured-img.jpg\",\n\t            \"datePublished\": \"2024-03-28T15:15:00+00:00\",\n\t            \"dateModified\": \"2024-04-02T19:05:22+00:00\",\n\t            \"description\": \"Today, on the final day of 2024\u2019s stellar first quarter, I reminded myself about that discussion about annualization.\",\n\t            \"inLanguage\": \"en-US\",\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"ReadAction\",\n\t                    \"target\": [\n\t                        \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/imagine-if-we-could-annualize-this-quarter\\\/\"\n\t                    ]\n\t                }\n\t            ]\n\t        },\n\t        {\n\t            \"@type\": \"ImageObject\",\n\t            \"inLanguage\": \"en-US\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/imagine-if-we-could-annualize-this-quarter\\\/#primaryimage\",\n\t            \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2023\\\/02\\\/Businessman-thinking-stock-market-featured-img.jpg\",\n\t            \"contentUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2023\\\/02\\\/Businessman-thinking-stock-market-featured-img.jpg\",\n\t            \"width\": 1000,\n\t            \"height\": 563,\n\t            \"caption\": \"Investor Sentiment Turns Negative as ISM Contracts\"\n\t        },\n\t        {\n\t            \"@type\": \"WebSite\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#website\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/\",\n\t            \"name\": \"IBKR Campus US\",\n\t            \"description\": \"Financial Education from Interactive Brokers\",\n\t            \"publisher\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\"\n\t            },\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"SearchAction\",\n\t                    \"target\": {\n\t                        \"@type\": \"EntryPoint\",\n\t                        \"urlTemplate\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/?s={search_term_string}\"\n\t                    },\n\t                    \"query-input\": {\n\t                        \"@type\": \"PropertyValueSpecification\",\n\t                        \"valueRequired\": true,\n\t                        \"valueName\": \"search_term_string\"\n\t                    }\n\t                }\n\t            ],\n\t            \"inLanguage\": \"en-US\"\n\t        },\n\t        {\n\t            \"@type\": \"Organization\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\",\n\t            \"name\": \"Interactive Brokers\",\n\t            \"alternateName\": \"IBKR\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/\",\n\t            \"logo\": {\n\t                \"@type\": \"ImageObject\",\n\t                \"inLanguage\": \"en-US\",\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/logo\\\/image\\\/\",\n\t                \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/05\\\/ibkr-campus-logo.jpg\",\n\t                \"contentUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/05\\\/ibkr-campus-logo.jpg\",\n\t                \"width\": 669,\n\t                \"height\": 669,\n\t                \"caption\": \"Interactive Brokers\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/logo\\\/image\\\/\"\n\t            },\n\t            \"publishingPrinciples\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/about-ibkr-campus\\\/\",\n\t            \"ethicsPolicy\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/cyber-security-notice\\\/\"\n\t        },\n\t        {\n\t            \"@type\": \"Person\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/person\\\/31988d9596575a63ddc53e92049a2549\",\n\t            \"name\": \"Steve Sosnick\",\n\t            \"description\": \"Steve is the Chief Strategist at Interactive Brokers. He has held numerous roles in the organization since joining Timber Hill, IBKR\u2019s predecessor, in 1995 as Equity Risk Manager and an options market maker. He developed and implemented automated trading strategies for stocks and options before moving into his current role. Steve has guest authored several columns in Barron\u2019s and made numerous live on Bloomberg TV and Radio, CNBC, Yahoo Finance, Fox Business, and several other media outlets several media outlets in North America, Asia, Australia, and the Middle East in addition to being quoted frequently in print and electronic media. Prior to joining Interactive Brokers, Sosnick held senior trading roles at Morgan Stanley, Lehman Brothers, and Salomon Brothers, where he completed the firm\u2019s famed training program.\",\n\t            \"sameAs\": [\n\t                \"https:\\\/\\\/ibkr.com\"\n\t            ],\n\t            \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/author\\\/steve-sosnick\\\/\"\n\t        }\n\t    ]\n\t}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Imagine If We Could Annualize This Quarter\u2026","description":"Today, on the final day of 2024\u2019s stellar first quarter, I reminded myself about that discussion about annualization.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/204006\/","og_locale":"en_US","og_type":"article","og_title":"Imagine If We Could Annualize This Quarter\u2026 | IBKR Campus US","og_description":"Today, on the final day of 2024\u2019s stellar first quarter, I reminded myself about that discussion about annualization.","og_url":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/imagine-if-we-could-annualize-this-quarter\/","og_site_name":"IBKR Campus US","article_published_time":"2024-03-28T15:15:00+00:00","article_modified_time":"2024-04-02T19:05:22+00:00","og_image":[{"width":1000,"height":563,"url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/02\/Businessman-thinking-stock-market-featured-img.jpg","type":"image\/jpeg"}],"author":"Steve Sosnick","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Steve Sosnick","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/imagine-if-we-could-annualize-this-quarter\/#article","isPartOf":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/imagine-if-we-could-annualize-this-quarter\/"},"author":{"name":"Steve Sosnick","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/person\/31988d9596575a63ddc53e92049a2549"},"headline":"Imagine If We Could Annualize This Quarter\u2026","datePublished":"2024-03-28T15:15:00+00:00","dateModified":"2024-04-02T19:05:22+00:00","mainEntityOfPage":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/imagine-if-we-could-annualize-this-quarter\/"},"wordCount":872,"commentCount":2,"publisher":{"@id":"https:\/\/ibkrcampus.com\/campus\/#organization"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/imagine-if-we-could-annualize-this-quarter\/#primaryimage"},"thumbnailUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/02\/Businessman-thinking-stock-market-featured-img.jpg","keywords":["annualization","corporate earnings","Data Analysis","equity indexes","GDP growth","global economy","inflation control","investor behavior","market correction","market rally","market sustainability","monetary policy","rate cuts","risk assets","speculation","sustainable growth","trading model","unemployment rate","VIX","Warren Buffett"],"articleSection":["IBKR Insights","North America","Region","Securities","Stocks","Text Articles","Traders' Insight"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ibkrcampus.com\/campus\/traders-insight\/imagine-if-we-could-annualize-this-quarter\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/imagine-if-we-could-annualize-this-quarter\/","url":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/imagine-if-we-could-annualize-this-quarter\/","name":"Imagine If We Could Annualize This Quarter\u2026 | IBKR Campus US","isPartOf":{"@id":"https:\/\/ibkrcampus.com\/campus\/#website"},"primaryImageOfPage":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/imagine-if-we-could-annualize-this-quarter\/#primaryimage"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/imagine-if-we-could-annualize-this-quarter\/#primaryimage"},"thumbnailUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/02\/Businessman-thinking-stock-market-featured-img.jpg","datePublished":"2024-03-28T15:15:00+00:00","dateModified":"2024-04-02T19:05:22+00:00","description":"Today, on the final day of 2024\u2019s stellar first quarter, I reminded myself about that discussion about annualization.","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ibkrcampus.com\/campus\/traders-insight\/imagine-if-we-could-annualize-this-quarter\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/imagine-if-we-could-annualize-this-quarter\/#primaryimage","url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/02\/Businessman-thinking-stock-market-featured-img.jpg","contentUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/02\/Businessman-thinking-stock-market-featured-img.jpg","width":1000,"height":563,"caption":"Investor Sentiment Turns Negative as ISM Contracts"},{"@type":"WebSite","@id":"https:\/\/ibkrcampus.com\/campus\/#website","url":"https:\/\/ibkrcampus.com\/campus\/","name":"IBKR Campus US","description":"Financial Education from Interactive Brokers","publisher":{"@id":"https:\/\/ibkrcampus.com\/campus\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ibkrcampus.com\/campus\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ibkrcampus.com\/campus\/#organization","name":"Interactive Brokers","alternateName":"IBKR","url":"https:\/\/ibkrcampus.com\/campus\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/logo\/image\/","url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/ibkr-campus-logo.jpg","contentUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/ibkr-campus-logo.jpg","width":669,"height":669,"caption":"Interactive Brokers"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/logo\/image\/"},"publishingPrinciples":"https:\/\/www.interactivebrokers.com\/campus\/about-ibkr-campus\/","ethicsPolicy":"https:\/\/www.interactivebrokers.com\/campus\/cyber-security-notice\/"},{"@type":"Person","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/person\/31988d9596575a63ddc53e92049a2549","name":"Steve Sosnick","description":"Steve is the Chief Strategist at Interactive Brokers. He has held numerous roles in the organization since joining Timber Hill, IBKR\u2019s predecessor, in 1995 as Equity Risk Manager and an options market maker. He developed and implemented automated trading strategies for stocks and options before moving into his current role. Steve has guest authored several columns in Barron\u2019s and made numerous live on Bloomberg TV and Radio, CNBC, Yahoo Finance, Fox Business, and several other media outlets several media outlets in North America, Asia, Australia, and the Middle East in addition to being quoted frequently in print and electronic media. Prior to joining Interactive Brokers, Sosnick held senior trading roles at Morgan Stanley, Lehman Brothers, and Salomon Brothers, where he completed the firm\u2019s famed training program.","sameAs":["https:\/\/ibkr.com"],"url":"https:\/\/www.interactivebrokers.com\/campus\/author\/steve-sosnick\/"}]}},"jetpack_featured_media_url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/02\/Businessman-thinking-stock-market-featured-img.jpg","_links":{"self":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts\/204006","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/comments?post=204006"}],"version-history":[{"count":0,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts\/204006\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/media\/182734"}],"wp:attachment":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/media?parent=204006"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/categories?post=204006"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/tags?post=204006"},{"taxonomy":"contributors-categories","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/contributors-categories?post=204006"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}