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13 Oct 2023

Yes, Hedge funds are short equities

But don't forget the bigger picture: positioning among asset managers and leveraged funds is rather long... Source: TME, JP Morgan

12 Oct 2023

Birkenstock opening is even uglier than the shoes...

Birkenstock stock opens 11% below $46 IPO price in trading debut flop. The German sandal maker’s debut is the worst opening for a listing of $1bn or more in New York in over 2yrs, Bloomberg reports. Out of more than 300 US IPOs of that size in the past century, only 9 have fared worse, the last being AppLovin, which opened 12.5% below its IPO price in April 2021, BBG data show. Source: HolgerZ, Bloomberg

12 Oct 2023

Emerging market stocks have fallen to their lowest valuation relative to the S&P 500 in AT LEAST 36 years

Source: Barchart, Bloomberg

11 Oct 2023

Almost half of US listed firms have negative profit margins

They have been able to survive in artificially low interest rates and ample liquidity environment. Things have changed though. Source: GS, Michel A.Arouet

11 Oct 2023

LVMH Louis Vuitton Moët Hennessy. Q3 results in one image

Q3 Revenue +9% Y/Y to €20.0B (in cc). 🍷 Wines & Spirits -14% to €1.5B. 👜 Fashion & Leather goods +9% to €9.8B. 💅 Perfumes & Cosmetics +9% to €2.0B. 💍 Watches & Jewelry +3% to €2.5B. 🛍️ Selective retailers +26% to €4.1B. Source: Quartr, App Economy Insights

11 Oct 2023

Total Returns over last 3 years...

MSCI India ETF $INDA: +33% MSCI China ETF $MCHI: -41% Source: Charlie Bilello

10 Oct 2023

Another week, another IPO

$BIRK Birkenstock could reach a $10B valuation in its US IPO. Here's a look at how they make money. Source: App Economy Insight

10 Oct 2023

A big short squeeze in the making?

GS data shows US CTA are now SHORT -$40B of SPX, the largest short in Goldman models history.

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