Today’s Animal Spirits is brought to you by YCharts
Mention Animal Spirits to receive 20% off when you initially sign up for the service
On today’s show we discuss:
- Investors put more money into stocks last week than they did in all of the 20th century
- Index funds are worse than Marxism
- The biggest ETF launch ever
- Real estate expert Bill McBride agrees with Ben
- Some good things are happening for the bottom half of Americans
- A worker shortage
- The right way to think about “paying” for the infrastructure bill
- Fidelity is hiring, check it out
- Margin loan is not a leading indicator
- 1 in 4 workers will be looking for a new job. I’m not buying it.
- First time investors are now 15% of the retail market
- Robinhood is a big player in crypto
Listen here:
Recommendations:
Charts:
Tweets:
The technologically enabled innovation evolving today is dwarfing that during any other period in history. It is creating “good deflation” and explosive demand. Battery technology is a good example. In @ARKInvest’s view, EVs will scale 15-20 fold in the next five years.
— Cathie Wood (@CathieDWood) April 6, 2021
The chart below shows that equity funds & ETFs have barely taken in fresh investments since the March 2009 bottom, despite a 660% return for the S&P 500. Incredible. Bond funds & ETFs, meanwhile, have taken in more than $3 trillion. Begs the question: Where’s the bubble? pic.twitter.com/v7IMAAYAt7
— Jurrien Timmer (@TimmerFidelity) April 6, 2021
(Bill McBride tweet: “Speculation would be significant house-flipping”)
(Myles Udland tweet: “$UBER: “As vaccination rates increase in the U.S.”)
Some highlights…
1. UHNW investors have more money in collectibles than gold/precious metals.
(Are they just coming up with an excuse to buy what they want?) pic.twitter.com/qrZwvbChO0
— Corey Hoffstein 🏴☠️ (@choffstein) April 10, 2021
Investors @CollectableApp have opted to REJECT the $34,500 ($13.67/share) buyout offer presented to them for the '1996 SI for Kids Tiger Woods Card’ (PSA 10) 🐯
91% of shareholders (share-weighted) voted no on what would have represented a 36.7% ROI in 40 days. https://t.co/NuFZSIlwca pic.twitter.com/JEA5RRoqDo
— Altan Insights (@AltanInsights) April 9, 2021
Good lord.
“Collectable received an offer to acquire the Wilt Chamberlain 1961 Fleer Rookie Card PSA 9 for $350,000. The asset was offered on Collectable this past Sunday, April 4th, 2021, for $200,000.” pic.twitter.com/C5skHNZwml
— Michael Batnick (@michaelbatnick) April 7, 2021
1/ The amount of U.S. dollar banknotes in circulation just hit $2.1 trillion.
Patterns in banknote usage are typically very stable, so we can get a good feel for how much cash would be circulating in a hypothetical world without COVID-19. pic.twitter.com/glUjN3m1dN
— John Paul Koning (@jp_koning) April 10, 2021
CoreLogic: House Prices up 9.2% Year-over-year in December https://t.co/YyM5k8ffE5
— Bill McBride (@calculatedrisk) February 2, 2021
Contact us at animalspiritspod@gmail.com with any feedback, recommendations, or questions.
Follow us on Facebook, Instagram, and YouTube.
Check out our t-shirts, stickers, coffee mugs, and other swag here.
Subscribe here:
