Today’s Animal Spirits is presented by YCharts.
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On today’s show we discuss:
Buying when stocks are down big
The stocks millennials bought in 2018
While America Aged by Roger Lowenstein
The Behavioral Investor by Daniel Crosby
The S&P 500 does ackshually have 500 companies. 505 stocks because the ones below. pic.twitter.com/FM0CwQSFBl
— Michael Batnick (@michaelbatnick) December 27, 2018
Today I convened individual calls with the CEOs of the nation's six largest banks. See attached statement. pic.twitter.com/YzuSamMyeT
— Steven Mnuchin (@stevenmnuchin1) December 23, 2018
There are times where analysis becomes fairly useless. Fundamental and technical. A stock was cheap before it's now cheaper still. Oversold gets more oversold. One extreme after another. We're stretching a rubber band. It either springs back or it breaks, and we don't know when.
— Jon Boorman (@JBoorman) December 23, 2018
AAII Bearish sentiment above 50% for the first time since April 2013.
— Bespoke (@bespokeinvest) December 27, 2018
YOUR CRAP-BUT-TRUE $SPX STAT EVEN THOUGH I'M ON VACATION
On Dec 17, 2018, the index went from a new all time high to a new 52wk low in only 59 trading days.
The only faster times, ever?
Oct '29 – 42d
Oct '87 – 38d
Jun '65 – 32d
Aug '90 – 26d
— OddStats (@OddStats) December 24, 2018
With chatter on it being an ‘opportune’ time to buy, we updated our valuation metrics across indexes. Some indexes are back to ‘09 level P/E ratios- particularly the WisdomTree Earnings weighted mid and small caps which re-balanced Friday; Small Caps with Single Digit P/Es! pic.twitter.com/DwkbZDFUek
— Jeremy Schwartz (@JeremyDSchwartz) December 26, 2018
Papers on valuation: Goldman Sachs, Credit Suisse, UBS,…https://t.co/MROX79mJ9D
— Ivan Maljkovic (@ivan_brussels) December 27, 2018