Everyone is talking about Oracle CDS, but Coreweave $CRWC CDS is the real gem...
Source: RBC, Bloomberg
2026 is expected to be the year of BIG IPOs.
See below a nice chart from @YahooFinance on some huge IPOs expected next year. Source: Ryan Detrick
Although the Swiss Franc has been the strongest currency in the world, the purchasing power degradation in ‘real’/’hard’/gold terms over the last 20 years has been massive
Chart below shows Gold price in Swiss Francs – the “hardest” fiat currency in the world has lost 80%+ of its purchasing power !) Source: Goldman Sachs, zerohedge
Oracle and its peers... earnings versus debt
(based on last available financial quarter) Source: Bloomberg
OpenAI will spend $6 billion on stock-based compensation this year, half of its revenue
Source: Conor Sen
Is copper the new gold?
Source: J-C Parets
📢 China's Economic Slowdown Deepens in November 📉
China's economic performance in November fell short of expectations across key metrics, signaling a deepening slowdown as authorities grapple with weak demand, property sector decline, and supply-side constraints. Key data points: 🔴 Retail Sales: Rose 1.3% year-on-year (YoY), sharply missing the 2.8% forecast and slowing significantly from 2.9% in October. 🔴 Industrial Production: Climbed 4.8% YoY, missing the 5.0% forecast and marking its weakest growth since August 2024. 🔴 Fixed-Asset Investment (YTD): Contracted 2.6% over the January-November period (worse than the 2.3% forecast). This contraction deepened from the prior period (1.7% drop) and represents the sharpest slump since the 2020 pandemic outbreak. Source: CNBC
🗓️ A Look Back at the Dot-Com Bubble's Aftermath
For those unfamiliar with the late-1990s internet bubble that burst in March 2000: the pain was initially confined. As Peter Berezin of BCA Research highlighted, non-technology stocks continued their ascent for a full year before the broader market succumbed to the 2001 recession. Is this history set to repeat, ushering in another "great rotation" in the coming months?
