Chinese stocks are on 🔥
- Turnover nearly 2 trillion yuan in the morning session - CSI 300 within 1% of 2022 high - Technicals signaling short-term overheating. Meanwhile, HSBC lifts China index targets: "We lift our end-2025e target for SHCOMP to 4,000 (from 3,700), CSI300 to 4,600 (from 4,300), and SZCOMP 13,000 (from 11,500) given the abundant liquidity" Source: David Ingles, Bloomberg
😨 Worried about investing at all-time highs?
History says you shouldn’t be. Since 1989, forward returns after new highs have actually been better than at other times: 1yr: +13.5% vs +11.8% 3yr: +44% vs +39% 5yr: +82% vs +74%. Source: Charlie Bilello
Nancy Pelosi's stock portfolio
Source: Sam Badawi @samsolid57, Carbon Finance
Eye-opening chart, while earnings of Magnificent 7 have had an unprecedented run, earnings of S&P 493 have been more or less stagnant since 2020.
Is the US economy really so strong? Source: Michel A.Arouet, Bloomberg
Shorting the market is not an easy sport...
Below S&P 500 returns following Michael Burry’s stock market warnings... Source: Peter Mallouk
Meanwhile... A new all-time high for the Borsa Istanbul 100 Index
Source: Augur Infinity
July Nasdaq seasonals were great. September's are not.
Source: zerohedge
Belated "Nixon closing the gold window anniversary" post
SPX priced in gold (blue) v. SPX priced in USD (red) since August 1971 when Nixon closed the gold window. Source: Luke Gromen @LukeGromen
