Hints and tips:
...Productivity-hype bubbles are usually separated by at least 25 years and usually form at the end of a secular bull market, when aggregate profits are coming under pressure, say Garthwaite et al....
...Roman Kramarchuk, head of future energy analytics at S&P Global Commodity Insights, said policy changes linked to COP28 were “inherently a long-term story”....
...They found that the standout stocks today are at much cheaper valuations than the stars of the 90s were, and while the valuations of the Magnificent 7 et al do look a lot like the “Nifties,” they tend to...
...If you owned rate-sensitive, high-risk stocks yesterday you have Unhedged’s permission to sell and take the rest of the year off (Carvana, Zillow, SoFi, et al rose 10 per cent or more)....
...The riskiest, most beat-up members of the group (KeyCorp, Comerica, Zions, Western Alliance et al) rose the most....
...and inflation go hand in hand Bouchaud et al. find that when people trust an “active” central bank, reining in inflation is the outcome of trust, not interest rates....
...And I think you could think of this as a knock against US stocks, right? What about the Mag Seven? What about how concentrated the stock market gains are with Nvidia, Microsoft, Google et al?...
...The recent rise of the Faangs, et al, looks like a knee-jerk reaction to the fall in rates and rate expectations that followed the banking mess (the 10-year yield has fallen from 4-ish per cent to 3.6-ish...
...Saudi football club Al Hilal has approached Qatar-owned Paris Saint-Germain with a €300mn bid to sign Kylian Mbappé, a record-breaking offer for the French forward....
...Arnott et al estimate that stocks ejected from the S&P 500 actually outperformed new entrants by an average of 2,200 basis points in the year after the index rejig (FTAV has written about the index inclusion...
...Everyone expects Jay Powell et al to say “no rate increase today, but maybe in a month”....
...In the communications sector, the video entertainment companies (Warner Bros Discovery, Paramount, Disney, Netflix et al) explain the bulk of the outperformance....
...But even in the face of this poignant example, the Chan et al/Verdad view is very hard for a person like me to accept....
...In the US, at least, mom-and-pop investors and advisers build portfolios with the categories used by Morningstar et al....
...Does that mean already anxious investors have little to fear as the Fed et al embark on QT?...
...Whatever you might think of Robinhood et al, retail investors do appear to value their services. You can’t ignore the regulatory politics either....
...In the case outlined by Haddad et al, Goltz said investors were buying a stock “even though the price has gone up”, so demand is more inelastic and “you can have additional volatility from shifts in demand...
...A true crisis could develop if Binance et al have significant hidden exposure to declining prices, perhaps through DeFi investments....
...Small caps tend to be more volatile than blue-chip stocks both on the way up and down — and could be big medium-term winners if Kolanovic et al are right....
...Surely Zuck et al can make money — serious money — out of messaging software with two billion users. I disagree on the Metaverse, though. It is not “free”....
...Former US vice-president Al Gore and financier David Blood are launching a climate change asset manager that will largely focus on private markets....
...The Federal Reserve, it appears, is going to tighten with total predictability and imperceptible gentleness; inflation will be transient; Evergrande et al will not sink the Chinese economy; lions will lie...
...Other FTSE 100 companies with a US focus — Ashtead, Prudential and Pearson et al — will be monitoring Ferguson’s drip-by-drip progress carefully....
...Since the financial crisis and the ensuing rise to fame of the investors who called —and profited significantly from — it (Bass, Burry, Eisman, Paulson, Gross et al) there have been almost constant calls...
...There’s not much precedent to support the idea that Shina et al can walk away based on a MAC clause: WPP was forced against its will to buy Tempus in 2001, Guy Hands couldn’t scrap a bid for East Surrey...
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