The Rising Influence of Rising Affluence

[DewDiligence]

DE/Addendum re trade/tariffs—Investors should be on the lookout for companies who excuse weak financial results by citing “trade tensions.”

DE itself is pretty honest, in my experience, but I can’t say the same for all export-oriented US multinationals. Moreover, there’s a direct line between China’s tariffs on US agriculture and the profitability of DE’s US farmer customers, so DE investors don’t need a deeper explanation for soft results and lowered guidance.