Peak Big Tech? Nvidia insiders unload shares after 220% AI rally:
Insiders sold or filed to sell about 370,000 shares last month worth ~$180mln. Zuckerberg sells 1st Meta shares in 2 years after 172% surge. Meta co-founder unloaded $185mln of stock in November. Meanwhile, Nvidia Corp. executives and directors last month sold or filed paperwork showing they intend to sell roughly 370,000 shares worth about $180 million, according to data compiled by the Washington Service. If all of the shares were sold, it would be the biggest monthly disposal by dollar value in at least six years. Source: Bloomberg, Holger Zschaepitz
Most important correlation breakdown of 2023, according to BofA:
The S&P 500 soared >19% YTD led by "Magnificent Seven" (now 30% of market cap). Tech stocks hit 100-year relative high (despite global liquidity (G3 Central Bank Balance sheet) -$1.8tn.
This month will go down as one of the best ever for the S&P 500
Did you know that after previous months that gained >8% continued strong returns were common? Higher a year later 90% of the time and up 15.8% on average. Source: Ryan Detrick
The S&P 500 gained 8.9% in November, the 18th biggest monthly advance since 1950. $SPX
Source: Charlie Bilello
Global Stocks post a gain of almost 9% during November, their best month in 3 years
Source: Barchart
November was truly a month of "bad news" being "good news" for stocks...
'Hard' data (red line) hits a 14-month low as S&P 500 surge back near record highs. Source: Bloomberg, www.zerohedge.com
Contemporary art beats stocks and Basquiat beats apple
Since 11/84, Jean-Michel Basquiat has been generating higher annualized return than apple... Source: Chartr
This chart shows that correlation between stocks and long duration bonds remain quite high
This is a regime change from previous decade and has implications for portfolio construction. Source: J-C Parets
