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On today’s show we discuss:
- Elon Musk is worth more than Warren Buffett
- Robert De Niro is going broke…
- Low vol in name only
- Market neutral is kinda confusing
- Hedge funds’ existential crisis
- Tail risk hedging is expensive
- Alternatives are a loser’s game
- Damodaran on why the markets are making a lot of sense
- What to do once you’re out of the market
- Robinhood incentivizes its customers to trade more
- Reckless on Wall Street
- Bankruptcies are relentless
- Peloton making cheaper treadmills
- A 13F update
This rally is ALL tech.
While 76% of NASDAQ 100 members are above their 200 dma, less than 40% of S&P members are above their 200 dma. Tech is trying to lift up the index, other stocks aren't participating.
This has pushed the gap in breadth to an all-time high. Worrisome? pic.twitter.com/tqMtoc4boA
— SentimenTrader (@sentimentrader) July 10, 2020
Stat of the day via @Reuters…$TSLA would be among most valuable companies ever added to S&P 500, larger than 95% of index’s existing components. pic.twitter.com/GzSMnTXbQq
— Nate Geraci (@NateGeraci) July 11, 2020
Great chart from @TheStalwart this morning.
"Permanent layoffs" piling up at a breakneck *pace* vs. '01 and '07, but the *total damage* is not as bad.
The PPP was designed to prevent temporary and permanent layoffs, and it succeeded. We simply botched the containment efforts. pic.twitter.com/gR5QtxzBCV
— Ryan Selkis (@twobitidiot) July 7, 2020
For Q2,’20, the U.S. dividend rate declined a massive $42.5B (Q1,’20 -$5.5B), worst Q since Q1,’09’s $43.8B, as major damage appears to be behind us (but more to come); full release at https://t.co/piYjqUyaSq pic.twitter.com/HvfkNkQcCs
— Howard Silverblatt (@hsilverb) July 8, 2020
People eagerly RT'ing the existential crisis in L/S HF article. I will reiterate my estimate that on a $ weighted basis, the industry is likely outperforming the S&P 500 by the most in any year post GFC. Ignore HFRI.
— modest proposal (@modestproposal1) July 8, 2020
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