US smallcap stocks now account for less than 4% of the entire US equity market.
They now reflect the same percentage of the market as 1930 before the Great Depression. As AI-hype as spreads, small cap stocks have significantly underperformed large caps. Currently, more than one-third of the Russell 2000 index has negative earnings, down from ~45% in 2020. Small-cap stocks are now hated more than ever. Source: The Kobeissi Letter
Total Cash Net of Debt...
Google $GOOGL: $98 billion Apple $AAPL: $65 billion Meta $META: $47 billion Amazon $AMZN: $28 billion Microsoft $MSFT: $20 billion Nvidia $NVDA: $16 billion Source: Charlie Bilello
$1,000 invested under Republican Presidents is worth $27,400.
$1,000 invested under Democratic Presidents is worth $61,800. But that same $1,000 invested the whole time is worth $1.7 million today. Another gem from bespoke invest thru Ryan Detrick.
We are currently in the corporate buyback blackout period for most of the $SPX.
Since 2000, US corporations have bought back $5.5T of stock. This has amounted to more demand than any other market participant, and it’s not even close. 👇 Source: David Marlin, Goldman Sachs
From expecting 6 Fed rate cuts to just two in 2024 😉
Source: Markets & Mayhem
Tiger Woods’ Putter Choice Has Created an Asset Class
It’s no surprise that Tiger Woods is also regarded as one of the greatest putters ever. Putters hold a unique place in golf blending personal attachment with performance, and if you’ve ever seen Tiger’s Scotty Cameron putter, it’s easy to tell that both of those are true. Scotty Cameron putters aren’t just any old putter though, as the highly coveted Circle T models have turned into both a collector's dream and a speculative market, with prices ranging from $2,000 to $8,000 and resale values soaring. Tiger’s use of Cameron putters, even while contracted with other brands, has significantly boosted the brand’s profile, turning these clubs into sought-after items that could even qualify as art. source : bloomberg
Credit card Rates Keep Climbing to Reach Unprecedented Levels
Source: Bloomberg
Ahead of US inflation numbers tomorrow (Wednesday), US 2-year breakeven rates just rose to 13-month highs...
Source: Bloomberg, David Ingles
