Energy is the most de-correlated sector to Tech.
Source: BNP
There's two hotbeds for re-export of western goods to Russia in Central Asia and the Caucasus: Armenia (top left) and Georgia (bottom left).
Armenia stands out for massive direct exports to Russia (black), Georgia for a huge surge in exports to Russia's satellite economies blue). Source: Robin Brooks
On Wednesday, Nvidia, $NVDA, will report their Q4 2023 earnings results.
Since their last earnings report, on November 21st, the stock has gained an incredible 45% in value. Over these 3 months, the stock has added $600 BILLION in market cap. In other words, Nvidia has added an average of $10 billion PER TRADING DAY since their last earnings report. Can Nvidia continue its historic run? Source: The Kobeissi Letter
Six weeks into 2024, the bond market is struggling ... again.
YTD total return (through Feb 16) of the Bloomberg Agg Bond Index is -2.04% (blue line). Only 1980, 2018, and 2022 had a worse start. (Data started in 1976, so this is the 49th year of data). Source: Jim Bianco, Bianco Research
This chart vividly shows the pronounced overvaluation of US equities versus the rest of the world.
It's important to emphasize that price-to-book is just one metric for comparison. Source: Bloomberg, Tavi Costa
Mag 8: Could Eli Lilly $LLY be the first trillion dollar pharma stock?
$LLY price performance has significantly outpaced the Mag 7 YTD. Source: Factset, TME
Is this time different?
Source: Markets & Mayhem, BofA
Storytelling is a powerful tool in presentations.
It connects ideas to emotions, making lessons memorable. Source: agrassoblog.org
