Why is it even a surprise that Netflix started losing subscribers?

Very much like Peloton has pulled demand forward, during the Covid lockdowns, and then that stay-at-home excess profits have attracted all kinds of competitors. Now Peloton faces declining demand AND higher competition. Netflix is suffering from the exact same effect. BTW our Tools told clients to avoid/short NFLX since its stock was $500. ...

There are many compelling reasons to broadly avoid Technology stocks for the next few years.

Yes, they are over-earning, over-valued, over-owned, over-liked, etc.Yet, all long-term investors know that the leaders of the previous cycle never lead the new cycle.The technology worked 2010-2021, and, that party is over ...

Banks would NOT benefit from the higher rates if the Yield Curve is inverting.

Simplistically speaking, banks take deposits at low rates, and, issue loans. The issue is that for the last decade most banks were paying 25 bps on deposits, as there were no alternatives. When the short-term treasuries would offer 2-3-4%, who would bypass that for the checking account, paying close to nothing. I.e. banks would be ...

Amazingly residential rents in NYC (and, in most other large cities across the US) are running above the pre-covid levels.

Notwithstanding the obvious outrage of renters, the question is:WHY?On, the surface, it doesn’t make any sense:1) If the office space in NYC is only 30% occupied!2) if the crime rate is 45% than 1-2 years ago? Well, people suggest a litany of familiar gripes (greedy landlords, making up for the lost income in 2021-22) – ...

Elon Musk was never a proponent of a single business focus…

Quite the opposite, as always, he keeps breaking conventional rules of business conduct. In addition to his list of numerous full-time leadership jobs: Tesla SpaceX Boring Company Neuralink OpenAI and, taking care of his 6 kids! Any of these jobs are enough to keep any other capable person busy 24×7, he just volunteered to deal ...

The politically driven decision to release 1M barrels of crude oil per day from the Strategic Petroleum Reserve (SPR) was viewed as a temporary bandaid applied to an arm at the expense of a bleeding leg:

1) the logistical cap on SPR draws is ~0.5M BPD, which is essentially in line with the 3-4MM bbls per week that are ALREADY being drawn from the US SPR. I.e. the SPR daily release can’t get notably larger than the current outflow 2) even if a 1MM BPD release was feasible, a release of ...