Animal Spirits: Tech Shares Are Again

Posted Might 24, 2023 by sean

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On in the present day’s present, we talk about:

Austin:

RWM is coming to Austin, TX June Twelfth-14th‼️

@Downtown with extra particulars⬇️E-mail us at data@ritholtzwealth.com topic line “Austin” to order a gathering slot! pic.twitter.com/9iSdG4HFf3

— Ritholtz Wealth (@RitholtzWealth) May 19, 2023

Tropical Bros Shirts:

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Charts:

Tweets:

Japan’s Nikkei 225 broke out to a brand new multi-decade excessive this week, hitting its highest stage since 1990. It is nonetheless 20% under its highs from 1989: pic.twitter.com/5seJY5PMpT

— Bespoke (@bespokeinvest) May 19, 2023

EURO STOXX VOLATILITY INDEX SLIDES TO LOWEST LEVEL SINCE FEBRUARY 2020, LAST DOWN 0.6 POINTS AT 15.1017

— *Walter Bloomberg (@DeItaone) May 19, 2023

I do know the “only some shares driving returns” narrative sounds scary however in accordance with Empirical Analysis, there actually is not a lot to learn into ahead returns when trailing efficiency has been concentrated within the prime of the market. pic.twitter.com/vqbmcYYitB

— Tony Welch, CFA, CFP®, CMT (@tonywelch17) May 19, 2023

Investing motto I am utilizing for the 2020’s decade:

(1) Worldwide over Home
(2) Worth over Progress
(3) Small over Massive

Charts under are P/E & CAPE (absolute, normalized to avg, relative) for INTL DM (EAFE) Small-Mid Cap Worth and US Massive Cap w/ Worth eliminated. Very low cost! pic.twitter.com/OM3OPxr9w8

— Jesse Livermore (@Jesse_Livermore) May 19, 2023

The S&P 500 has been 10% or extra under its document excessive for simply over a yr — the eighth longest streak within the historical past of the S&P.

Sure, this bear has sucked.

However in the event you’re a long-term investor, this has been a once-in-a-decade likelihood to purchase at constantly low costs

— Callie Cox (@callieabost) May 18, 2023

Core PCE didn’t attain 2% till 1996.

Volcker claimed victory over inflation when it was considerably above 2%.

The two% goal was first adopted by the central banks of Australia and Canada within the late 1980’s. pic.twitter.com/LfMpon0OD0

— James E. Thorne (@DrJStrategy) May 21, 2023

Discuss a story of two housing markets.

Most of Connecticut sits at an all-time excessive (i.e. the blue ZIP codes under), whereas California stays properly under the 2022 peak. pic.twitter.com/PBm124YdST

— Lance Lambert (@NewsLambert) May 22, 2023

Most likely not a coincidence that the variety of firms mentioning “inflation” on earnings calls has fallen to the bottom since Q2 2021. https://t.co/3Yv0MPDwup

— Carl Quintanilla (@carlquintanilla) May 19, 2023

$NFLX co-CEO Greg Peter: “Since early this yr, our adverts member base has greater than doubled. On common, greater than 1 / 4 of our signups now select the adverts plan in international locations the place it is out there. 70% of our ad-supported members are between the ages of 18 & 49” https://t.co/qmpf0xDP1V

— The Transcript (@TheTranscript_) May 20, 2023

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