High global cost of capital hurts weak global balance sheets
Pakistan, Nigeria, Ethiopia, Egypt, DRC, Iran, Türkiye, Argentina account for 12% of world population (>1bn people) and they are all hit by inflation rates >30% (Argentina 250%, Türkiye 60%, DRC 50%), interest rates >20% & pressure of currencies. Source: BofA
Is Nivdia $NVDA - cheap? Via Bear Traps: "NVDA is now trading at a lower multiple than the NDX: fwd P/E is ~29 vs 32x for the NDX
NVDA is expected to grow earnings at 78% y/y for the current year and the Nasdaq 100 EPS growth is an estimated 17%." Source: TME
Japanese stocks soared to a new all-time high for the first time in almost 35 years but based on global valuation metrics, they could still have room to run...
Source: Bloomberg, Barchart
JUST IN: Fidelity has marked up the value of its shares in X by 11% during the month of December, according to a new disclosure
Usage of X is currently at an all time high of 384 billion user seconds per day. It is also believed that the launch of Elon Musk's AI company, Grok, has helped increase valuation. X is currently the #2 news app on the App Store. Source: The Kobeissi Letter
The SP500 is expensive
Source: Win Smart, BofA
'The Nasdaq 100 valuation has disconnected from real rates.'
Source: The Daily Shot, Win Smart
Mega Cap Tech stocks are approaching an all-time valuation relative to commodities that was last seen during the Dot Com Bubble
Source: Bloomberg, Barchart
The valuation gap between the S&P 500 $SPX and the rest of the world continues to widen
Source: FT, Barchart
