Not the Magnificent 7, but 2024 was the year of BATMMAAN! 🦇
BATMMAAN: +70% YTD Mag 7: +65% YTD S&P 500: +27% YTD Source: Wall St Engine,@wallstengine
🚨 The S&P 500 is down 1.0% in December but most of the sectors have been in a carnage:
Energy -10.7% Materials -9.9% Real Estate -8.9% Utilities -7.6% Industrial -7.0% Healthcare -5.3% Financials -4.6% Consumer Staples -4.0% 🚨 Tech holds this market. Source: Global Markets Investor, Bloomberg
At 5,971, the S&P 500 is over 500 points above above the highest 2024 year-end price target from Wall Street strategists and 23% above the average target (4,861).
$SPX Source: Charlie Bilello
One needs to take long-term forecasts with a pinch of salt, but there is some merit to it. Don’t bet against the US.
Source: Michel A,Arouet, The Economist
The Federal Reserve has reduced the size of its balance sheet by 10.7% this year, the largest percentage decline of any year on record.
Source: Charlie Bilello
The Price of Diamonds
They say diamonds are a girl's best friend, but not so good for your porfolio. Prices have fallen to their lowest level this century! source : barchart, Bofa
An index of Rolex Watch Prices is at its lowest level since November 2020, down 31% from the peak in March 2022.
Source: Charlie Bilello
DOGE lead Vivek Ramaswamy’s fund, Strive files for “Bitcoin Bond” ETF 🤯
👉 Strive Asset Management is launching a new ETF that will provide exposure to Bitcoin through convertible securities, primarily focusing on MicroStrategy’s holdings. 👉The Strive Bitcoin Bond ETF will invest at least 80% of its assets in “Bitcoin Bonds” and related derivative instruments, including swaps and options. 👉The actively managed fund will hold both direct positions in Bitcoin-linked convertible securities and derivatives, with allocation decisions based on cost and return potential. 👉The fund will maintain cash positions in short-term US Treasury securities and may invest in other Bitcoin-focused investment vehicles. 👉As a non-diversified fund, it can concentrate holdings in single issuers like MicroStrategy and allocate more than 25% of assets to software and technology sector companies. 👉Operating under a “manager of managers” structure, the ETF will be advised by Empowered Funds, LLC, which can appoint and replace sub-advisers without shareholder approval. 👉The fund’s shares will trade on the New York Stock Exchange and be held through the Depository Trust Company. Source: Vivek⚡️on X, Cryptobriefing
