Strategist Mike Wilson: Earnings Recession May Rival '08

The video discusses the current market situation compared to 2008, focusing on the potential for an earnings recession. It highlights the difference between an earnings recession and a balance sheet recession, emphasizing the risks involved. The discussion includes the market's focus on future earnings rather than current quarter results, and the use of a historical model to predict market trends. The model's accuracy and the importance of the spread in predictions are also covered.

According to the speaker, why should the market focus on the next 12 months rather than the current quarter's earnings?

What is the significance of the spread mentioned by the speaker in relation to market predictions?