President Trump official portrait is out.
Between 2017 and 2025, the body language looks different...
Bullish sentiment is through the roof: US households, mutual funds, pension funds, and foreign investors' financial asset allocations in US stocks hit a record 54%.
Since the 2009 low, this percentage has DOUBLED, exceeding the 2000 Dot-Com Bubble peak of 51%. On the other hand, allocation to debt instruments like bonds has dropped by 9 percentage points to an all-time low of 18%. At the same time, cash allocation has fallen to 13%, near the lowest on record. Investors are all-in on stocks.
The Market Cap of the largest 50 stocks relative to GDP is at 110%, the highest level in history, surpassing the peak of the Dot Com Bubble and the Global Financial Crisis...
Source: Barchart
BREAKING: Donald Trump to designate crypto as a national priority, including the consideration of a "national Bitcoin stockpile"
— Bloomberg
Apple $AAPL stock just closed the day down by 4% its worst day since August 5th
Source: Blossom on X
What Buffett Looks For and What to Avoid:
Source: The Investing for Beginners Podcast @IFB_podcast on X
Diamonds vs. Gold
Source: Bloomberg
In Germany, labor productivity has stagnated—or even declined—since 2020.
Meanwhile, US companies have embraced AI's benefits and recently achieved significant productivity gains. Notably, productivity trends in Germany and the US have been diverging since 1999. This divergence may also be linked to the introduction of the euro. Since the euro became undervalued for Germany—at least from 2004 onward—German companies may have felt less pressure to improve productivity. Source: HolgerZ, Bloomberg
