The Roundhill Memory ETF $DRAM is up 98% since launching 5 weeks ago, easily the best perf ETF out of the gate (while also being the fastest growing ETF- at least to $6.5b).
Source: Bloomberg, Eric Balchunas
The only precedent for when the S&P 500 has been at record highs while fewer than 60% of stocks were above both their 50- and 200-day moving averages: December 1998-March 2000.
Source: Bespoke Invest
21Shares lnc. is going live TODAY 12th of May with their Hyperliquid #ETF Ticker $THYP US Fee 30bps.
Source: Bloomberg, Eric Balchunas
Stocks vs. Housing Performance since the 1970s
Source: Barchart
Seems like another AI chipmaker IPO is on its way with Cerebras.
Source: Bloomberg
In case you missed it.... KKR Funds Loses $560 Million In 3 Months
The WSJ reports KKR’s big private-credit fund for regular investors just took a $560 Million bath (10% of its value) as loan defaults jumped to 8.1%. KKR's largest private-credit fund, primarily held by individual investors, experienced a significant $560 million loss in the first quarter due to an increasing number of loan defaults. Wall Street Journal (Markets) posted on X that this development highlights the challenges faced by private-credit funds as economic conditions fluctuate. The fund, which has been a popular choice among individual investors seeking higher yields, has been impacted by the financial instability of several borrowers. KKR share price has been cut in half and it’s now junk-rated.
Asset class returns as of 8/5/2026
Source: Charlie Bilello
Nomura's McElligott says there's a "new 60/40":
"Government bonds no longer work as your Risk-Asset / Long Asset Beta Hedge in a world of “Sticky Higher Inflation”... “The New 60/40” is a 50/50 Equities Barbell Long between AI Semis and Energy…. where Energy insulates on the Global “Supply Shock” and “Molecule Shortage” as the risk-off vehicle in the current backdrop, against the risk-on component being a world where AI Hyperscalers are going from $600B of Capex in 2026 to upwards of ~$1 TRILLION in 2027 and “Chasing Compute”. Source: Neil Sethi
