Hints and tips:
...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...
...More seriously, Goetzman et al argue that art price changes are largely a function of wealth concentration....
...What about how concentrated the stock market gains are with Nvidia, Microsoft, Google et al? I mean, shouldn’t that weigh against this rally? What about that? Katie MartinMaybe yes....
...Of course, O’Neill et al were mostly talking about these countries as burgeoning economies with tons of potential. And many of these countries have indeed subsequently done well....
...Last month, NWBO and its Reddit fans were rebuffed by a Manhattan court, which granted Citadel et al’s motion to dismiss the case. But there was a sting in the tail....
...However, Weinstein et al say they are excited to a large extent because those aforementioned risks are now materialising. As private credit investors, this is the environment we’ve been waiting for....
...The riskiest, most beat-up members of the group (KeyCorp, Comerica, Zions, Western Alliance et al) rose the most....
...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)....
...Shares in other banks considered to have some degree of asset-liability mismatch (Western Alliance, Zions et al) only saw their shares wobble a little bit yesterday....
...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...
...If we are right that consumer spending, despite some recent softening on the margin, is still at or above trend, that is another thing for Powell et al to fret over....
...But as Steven Kelly of the Yale Program on Financial Stability pointed out to me, Yellen et al will need the goodwill of the big banks should some other bank or banks get into trouble....
...The addition of the “+” countries (Russia, Kazakhstan, Mexico et al) to the cartel have increased its market share....
...Here’s Citi’s Andrew Coombs et al. then: For the European banks, we see less risk of deposit flight and believe they have more liquid balance sheets....
...In the communications sector, the video entertainment companies (Warner Bros Discovery, Paramount, Disney, Netflix et al) explain the bulk of the outperformance....
...To put it more simply: Jiang et al argue there are $2.2tn in mark-to-market losses out there, and there is only $2.2tn in equity in the US banking system....
...Prosecute fraud, maybe regulate crypto exchanges like casinos, and keep the SEC et al out of it. This is a disagreement about how to cordon off crypto so that when crypto burns, it is controlled....
...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 US, at least, mom-and-pop investors and advisers build portfolios with the categories used by Morningstar et al....
...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....
...A true crisis could develop if Binance et al have significant hidden exposure to declining prices, perhaps through DeFi investments....
...All assets may perform badly under stagflation, but we’d rather own Pepsi, Johnson & Johnson, Kimberly-Clark, Bristol-Myers et al than sit and watch our cash lose its earnings power....
...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”....
...Weak bank boards, poor risk processes and insufficiently robust risk committees allowed the balance sheets of Northern Rock, HBOS et al to expand unsustainably....
...Former US vice-president Al Gore and financier David Blood are launching a climate change asset manager that will largely focus on private markets....
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