S&P500 keeps sliding down
As S&P500 keeps sliding down (as it should),it reflects a profound market rotation:1) from the overpriced growth into Value2) from Technology and Discretionary into commodities and materials3) from the USD into Emerging Markets (mostly Latam). ...
Canada Equities vs. S&P500
As the overpriced Tech-heavy S&P500 keeps selling off CanadianLook at the Toronto Stock Index – healthy performance, being roughly flat YTD (in USD!)Even more, interestingly, Canadian Equities are doing well as the Bank of Canada has raised rates to rein in inflation! ...
Markets never make bottoms on good news
As the market keeps melting down,many investors are looking for a positive catalyst for things to turn around.Because, objectively looking, the news is depressing:1) earnings are rapidly decelerating;2) the Inflation overhang and the inevitable hikes from the Fed would compress multiples3) geopolitics is gloomy;4) China’s real estate and the credit there are a major concernYet…I.e. markets ...
Federal Reserve System
It is a bit puzzling how some ppl are getting worried that the Fed would tighten too much?!1. Has the Fed really done anything yet? No2. Aren’t we already facing 7-10% inflation?3. Wasn’t the Fed overly cautious by keeping emergency support for the economy for 2(!) years4. Didn’t they ignore calls from the market practitioners since ...
Headline from Ford
As I read this headline from Ford I smile: Ford is exploring a way to list its EV business to unlock Tesla-like Value I remember back in 1999, Barnes & Noble listed BarnesNoble.com as a separate attempt to “unlock the value” like Amazon!! Did it work? Hell, no That BNBN.com was eventually delisted and its ...
Cross-Asset signals low probability of Ukraine-Russia escalation…
his is a contrarian view, and we will host a call for clients to go deeper.We have communicated to clients that the TenViz Cross-Asset analytics sees,the chances of the Ukraine-Russian escalation being very low and declining.These low probabilities have been declining (with some noise) since Jan 27, 2022.Specifically, despite the disturbing news, almost all classes globally signal relative ...