More and more capital going into the business of selling ETFs with embedded options selling features
Source: TME, Nomura
Here's a classical example of contrarian signal that can be used in your asset allocation decisions
Entering into 2023, Wall Street strategists were expecting the S&P 500 to decline. This was the first time ever (survey started in 2000) that aggregated 12-month S&P 500 targeted return was in negative territory. Fast forward to the end of November and the SP500 is up 18% year-to-date... As Warren Buffet said: "Be fearful when others are greedy and greedy when others are fearful" Source: BCA research, Barchart
US households still have an estimated $433 billion in excess savings remaining from the 2020-21 stimulus programs
Source: TME
November has been a very long month of frustration for the bears
Source: Trend Spider
EQUITIES MOVE HIGHER AS BOND VOLALITY DROPS
Rates volatility joined the global volatility puke in November and we actually have the MOVE trading at the lowest levels since around mid September. Perfection vs SPX continues. Chart shows MOVE inverted vs SPX. Source: TME
For some shoppers, the upcoming holiday season may lead to piling on more debt
About 25% of Americans are still paying off holiday debt from 2022, according to WalletHub’s November holiday shopping survey. But those already carrying a balance could find themselves sinking further into the red if they don’t get a handle on their credit card debt. “If you’re in a hole, stop digging,” Ted Rossman, Bankrate’s senior industry analyst, tells CNBC Make It. One reason you may want to avoid racking up more debt is that higher interest rates are making it more expensive to pay down. As of November, the average credit card interest rate has risen from around 16% to nearly 21% since the Federal Reserve began raising interest rates in March 2020 in an effort to combat inflation, according to Bankrate. A higher interest rate means it could take longer and be more expensive to pay down your credit card debt. Source: make it, www.zerohedge.com
The 10 rules of Ikigai
Source: Investment Books (Dhaval)
As highlighted by Tavi Costa, one of the positives for gold today is the consistent neglect of the metal as a defensive alternative over the past few decades
This is evident in the significant underrepresentation of precious metals among traditional investment strategists. Source: Crescat Capital
