Many investors are livid about Facebook (Meta):

– yes, the stock is down 50+% YTD way worse than the rest of the market – yes, Facebook’s lunch is being eaten away by Tik-Tok – yes, the stock is down to the 12x P/E multiple (but if earnings keep eroding fast, we most certainly are facing a 100x P/E!)  However, should we really blame Mark ...

The Energy Sector is closing up on being by far THE BEST sector of the year.

Any surprises there? Its earnings went up from being negative in 2021 to nicely recovering through 2022.Interestingly, the Energy sector still trades at 9x P/E of still not fully recovered earnings. As US Oil companies spend most of their Free Cash flow paying dividends, buying back shares and paying down debt, you are getting paid ...

If, as an investor, you are losing money this year, there could be one of the three reasons for that:

1. Your investment process is flawed and is nothing but a momentum strategy – i.e. you failed to anticipate a fundamentally predictable reversal in earnings (i.e. Technology sector earnings predictably shrinking after the Covid overconsumption) 2. Your investment process is Macro blind – you failed to see rotations into Sectors or countries with better fundamentals ...

Kathy Wood’s open letter to the Fed asking to halt rising rates

looks lame and self-serving:blaming the Fed for being too focused on Inflation and employment (their mandate !) is insane.Obviously, Kathy Wood is talking up her book – she desperately needs lower rates to improve the performance of her struggling Ark Fund, Her Ark fund is down 62% YTD!One of the worst performing funds globally. Kathy why ...

UK bonds signaling a looming crisis?

The UK governments is effectively insolvent (over-indebted, overspending): 1) decades of budget deficits 2) ever rising government debt 3) practically irreversible – ageing demographics invariably causes Deficits and Debt Look how UK 30Y Yields are heading ever higher, signaling almost an inevitable crisis?We are just entering a painful global recession… ...

When investing in Technology stocks, valuation doesn’t help much.

On the way up – it is relevant as it is relatively hard to handicap when growth would normalize.On the way down – valuation is even more dangerous, as most Technology stocks are one-trick poneys – when their product becomes obsolete, almost no valuation helps as earnings quickly erode.So, FaceBook (Meta) might be the case ...