BREAKING: Nancy Pelosi has sold her Tesla, $TSLA, position worth ~$500,000.
She has also purchased an addition $1.2 million of Nvidia, $NVDA, and $5 million of Broadcom, $AVGO. Nancy Pelosi made millions buying nvidia, $NVDA, over the last two years. It appears that she is now doubling down on semiconductors stocks. Are chip stocks setting up for favorable legislation and/or US support ⁉ Source: The Kobeissi Letter
UK election
Source: No Context Brits on X
What is the link between the Japanese index Topix and Taylor Swift?
Finally after 35 years Japan's Topix has topped its 1989 high, which on a completely unrelated note was hit a few days after the birth of Taylor Swift... Source: David Ingles, Bloomberg
Another new low for the Citigroup US surprises index on the back of poor macro numbers this week (ADP employment, ISM services, etc.)
Source: Bloomberg, Ronald-Peter Stoeferle, CMT, CFTe, MSTA
Here's the link to a great article from Sequoia which argues the tech industry needs $600B in AI revenue to justify the money spent on GPUs and data centers:
https://lnkd.in/exFU9Wdp Bottom-line >>> OpenAI is the biggest AI pure play and is at $3.4B annual run rate. This feels like a bubble unless products worth buying show up. Source: Sequoia, Dare Obasanjo @Carnage4Life
The last time the market was this lopsided, Lehman filed for bankruptcy
Source: www.zerohedge.com, Bloomberg
Bets of a Kamala Harris nomination are exploding
Source: Bloomberg
Nvidia in 2024 vs. Cisco Systems in 2000..
Nvidia recently earned the most valuable company in the world status with an EV of $3.3 trillion, a record 11.7% of total US GDP at its recent peak on June 18, more than twice as high as Cisco’s achievement in 2000. It also has an even richer multiple of 41 times revenues. Will be future growth be up to the lofty market expectations? Source: Crescat Capital, Bloomberg, Tavi Costa
