S&P 500 Shiller P/E (CAPE) ratio exceeded 40x, the highest level since the 2000 Dot-Com Bubble BURST.
At the same time, US households’ equity allocation jumped to ~45%, the highest EVER. This is a few percentage points above the Dot-Com Peak. Source: Global Markets Investor, TopdownChart
Interactive Brokers might be one of the most under-discussed growth stories of the last decade.
Total accounts are up nearly 20x since 2012. Interactive Brokers reported 79% operating margins for their latest quarter. 79%... Is there any company in the world with higher operating margins? Source: Fiscal.ai (formerly FinChat) @fiscal_ai
Sudden burst of optimism that government shutdown will be resolved in next few days (Polymarket)
Source: zerohedge
Only ~20% of active equity managers have outperformed their benchmarks this year.
Source: Bloomberg, Jefferies
Technology continues to lead
Source: J.C. Parets
Is the Buffett rule sounding the alarm?
Since the 1990s, global financial assets have grown from 75% to over 200% of world GDP. Source: HolgerZ, Goldman
It's over for bitcoin
Source: Bitcoin magazine
Retail investors bought nearly $2 BILLION of US stocks on Friday, Oct 10, following the market pullback.
This marks the BIGGEST buying day since the April 2025 sell-off and one of the largest on record. Mom-and-pop investors are still buying the dip. Source: Global Markets Investor, Vanda
