Homelessness in the US has grown to the highest level since the Department of Housing and Urban Development (HUD) started tracking the figure back in 2007
With a record 653,104 people experiencing homelessness at the latest annual count. The number of people experiencing unsheltered homelessness — those living on sidewalks or in abandoned buildings, bus stations, etc. — was up around 47k from last year, while the figure for people staying in emergency shelters, transitional housing programs, or safe havens grew 23k in the same period. Source: Chartr
“The reports of my death are greatly exaggerated.” Mark Twain, 1897
Source: Lawrence McDonald, Bloomberg
Warren Buffet 5/25 rule
Source: Compounding Quality
The “HODL” meme started a decade ago today when a user misspelled the word “holding”
On that day, bitcoin $BTC opened at $678 and "closed" at $522 (i.e last price of the day), so quite a volatile session. If the hodler kept his/her coins, the current unrealized gain is 7,783%. In other words, a $10,000 position at that date is worth today a whopping $788,352. Source: Documenting Bitcoin
What a headline...
Hafize Gaye Erkan, the new head of Turkey’s central bank, said rampant inflation has priced her out of Istanbul’s property market, leaving the former finance executive with no choice but to move back in with her parents. “We haven’t found a home in Istanbul. It’s terribly expensive. We’ve moved in with my parents,” 44-year-old Hafize Gaye Erkan, who took up her post in June after two decades in the United States, told reporters. Source: Wall Street Silver
Long-Dated Treasuries have officially entered a bull market after $TLT surged higher by more than 20% from the 16-year low it hit on October 23
Source: Barchart
Bottom? Will the Turmoil In Used Rolex and Patek Market End After Fed's Pivot?
Extract from a zerohedge article: The secondary market for pre-owned Rolex and Patek Philippe watches has been spiraling down since peaking in early 2022, mainly because the Federal Reserve ended helicopter-dropping trillions of dollars in stimulus checks and was forced to begin the most aggressive interest rate hiking cycle in a generation to curb inflation. Now, the Fed's bizarre, unexpected pivot this week has spurred hope that a bottom nears for the luxury watch market. Bloomberg spoke with Christy Davis, a co-founder of Subdial, a UK-based secondary watch market dealer and trading platform, who believes the turmoil in the secondary luxury watch market is ending. "As we look toward 2024, the potential for a soft landing of stable and eventually declining rates is reason for optimism in the watch market," Davis said. Source: www.zerohedge.com
Markets are full risk-on since November 9th
The Nasdaq 100 and the S&P 500 have underperformed the equal weighted indices. They got beat up pretty badly by the Russell 2000 and have been left in the dust by Regional Banks and $ARKK (Ark Invest Innovation ETF). Source: Peter Tchir of Academy Securities
