Costco is selling a lot of Gold
Source: Nostra, House of Gold, CNBC
JUST IN 🚨: Fidelity now holds more than 150,000 Bitcoin $BTC worth over $10.2 billion
Source: barchart
The 60/40 portfolio doesn't fit all macro regimes by Alfonso Peccatiello / The macro compass
The 60/40 portfolio (60% equities / 40% bonds) did work great for 3 of the last 4 decades, and that's because the macro regime was one of predictably low growth and inflation, and Central Banks ready to support markets and economies. But are you sure the next 10 years be the same as the last 10 years?
US breakeven inflation rates rising
Source: Win Smart; Goldman Sachs, Bloomberg
US smallcap stocks now account for less than 4% of the entire US equity market.
They now reflect the same percentage of the market as 1930 before the Great Depression. As AI-hype as spreads, small cap stocks have significantly underperformed large caps. Currently, more than one-third of the Russell 2000 index has negative earnings, down from ~45% in 2020. Small-cap stocks are now hated more than ever. Source: The Kobeissi Letter
Total Cash Net of Debt...
Google $GOOGL: $98 billion Apple $AAPL: $65 billion Meta $META: $47 billion Amazon $AMZN: $28 billion Microsoft $MSFT: $20 billion Nvidia $NVDA: $16 billion Source: Charlie Bilello
$1,000 invested under Republican Presidents is worth $27,400.
$1,000 invested under Democratic Presidents is worth $61,800. But that same $1,000 invested the whole time is worth $1.7 million today. Another gem from bespoke invest thru Ryan Detrick.
We are currently in the corporate buyback blackout period for most of the $SPX.
Since 2000, US corporations have bought back $5.5T of stock. This has amounted to more demand than any other market participant, and it’s not even close. 👇 Source: David Marlin, Goldman Sachs
