German economy has returned to growth.
German Composite PMI Index moved back to >50 growth threshold in Apr for 1st time in 10mths, driven by a buoyant services sector. At 50.5, up from 47.7 in March, it signaled a modest expansion rate in private-sector business activity. Service PMI recorded its strongest growth since Jun2023 (index at 53.3). The manufacturing PMI meanwhile remained in sub-50 contraction territory at 42.2. Source: HolgerZ, Bloomberg
The power of share buybacks
'Since 2013, we have now bought back almost 50% of our shares.' Pulte 2023 Annual Report Source: MastersInvest.com, Bloomberg
New Stock ETFs will offer the potential for capped upside gains with 100% downside protection.
Source: Barchart
Foodflation... After coffee, cocoa... now is Butter approaching all-time highs!
Breakfast is getting more and more expensive Source: Barchart
The US is officially the largest oil producer in the world, and it's not even close.
Currently, the US is producing 12.9 million barrels per day of crude oil. This is nearly 30% more than the 10.1 million barrels per day that Russia produces and 33% more than Saudi Arabia. In fact, the US alone pumps 45% of the output produced by the entire OPEC combined. Furthermore, the US now produces nearly 4 TIMES as much oil as Brazil. Source: The Kobeissi Letter, Apollo
Here’s a nice map on AI companies by modality
Source: @chiefAIoffice, Pitchbook
"I’d be a bum on the street with a tin cup if the markets were always efficient.” - Warren Buffett
Source: MastersInvest.com
Central banks are STOCKING UP on gold:
Since 2022, China has bought a record ~290 tonnes of gold. Last year alone, China acquired more than 225 tonnes of the metal. China's central bank increased its gold holdings for 17 straight months. In 2022 and 2023, world central banks bought 1081 and 1037 tonnes of gold, respectively. Prior to 2022, there was never a year in history with 1,000+ tonnes of central bank gold purchases. Source: The Kobeissi Letter, BofA
