The SP500 is outperforming the world's biggest hedgefunds in 2025 YTD
Source: Brew Markets
This is how many investors currently feel... but we disagree.
There are "reasons" behind the current bull market. First, liquidity conditions remain favorable with Global M2 (a global liquidity proxy) going up. Second, earnings remain a tailwind with positive earnings revision and 2026 earnings growth reaccelerating. Third, the global macro & geopolitical context is more favorable than in H1 with some clarity on tariffs expected to improve in the coming months and lower taxes ahead. Of course, there are many risks to be taken into consideration but the probability of occurrence is probably exaggerated (e.g. ousting of Fed chairman Powell seems unlikely). But yes indeed, with this level of valuations, any unexpected event could trigger a very decent correction. So stay invested but keep some dry powder to buy the next dip Source picture. Brew markets
The 100 most shorted stocks in the Russell 1,000 are up 52% over the last three months and have beaten the index by 33 percentage points.
Not quite "meme-stock mania" from 2020/2021 but definitely elevated. Source: Bespoke
The meme stock frenzy is making a comeback.
Retail investors seem to be targeting the most shorted stocks again — one by one. Kohls is the new darling Source: HolgerZ, S&P Global
'Buy the Dip' mentality remains strong.
So far this year, the cumulative gain by buying a down day in the S&P 500 and holding it only for the next session is +18% ... tied for the fourth-highest since 1948 Source: Kevin Gordon @KevRGordon
Opendoor is the market’s latest Meme Stock w/insane trading volumes.
Shares of the San Francisco-based tech group that focuses on the stagnant real estate sector have nearly tripled in value over the past week. The rally appears to have been sparked by a prominent investor discussing the stock on social media, which drew the attention of retail traders. The company has struggled since peaking at a $20.6bn valuation in February 2021, shortly after merging with the SPAC (special purpose acquisition company) Social Capital Hedosophia Holdings Corp II, led by Chamath Palihapitiya. That decline isn’t surprising: Opendoor’s core business is in the "instant buyer" market, where it aims to make home sales faster and bypass traditional realtor fees—an idea that has faced serious challenges in a cooling housing market. Yesterday was a roller-coaster, with the stock declining -40% in the last hour of trading after being up more than 67% intraday... Source: HolgerZ
BREAKING: The S&P 500 is down 85% in Bitcoin terms since 2020.
Source: Bitcoin Archive @BTC_Archive
⚠️Corporate executives are EXTREMELY bearish:
11.1% of S&P 500 firms with the recent insider activity saw more buying than selling by corporate officers and directors, the LOWEST share EVER. 10 of the 11 sectors saw negative activity in all company sizes including large-cap. Source: Global Markets Investor
