Investors looking out for the fabled fiscal cliff should be careful not to tumble down the “earnings cliff,” if corporate profits plunge.

“When we look at the data from the third quarter of this year, we’re not seeing a rosy picture,” said Rick Scott, chief investment officer and senior managing director at L&S Advisors, an RIA in Los Angeles. “In every fiscal cliff scenario, there is a potential for weak earnings in the next one to three quarters.”

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