Today’s Animal Spirits is sponsored by Masterworks:
Go to Masterworks.io/animal to learn more about investing in contemporary art. And check out our most recent interview with Masterworks CEO Scott Lynn here.
On today’s show we discuss:
- The Russian stock market was 6% of the world market in 1900
- The boom-bust cycle in commodities
- Vanguards outsized inflows
- Russias central bank sanctions
- A possible embargo on Russian Oil and Gas?
- Hiring up in February, jobless rate continuing to fall
- The middle class is getting priced out of real estate
- The growing workforce of real estate agents
- Russia values local crypto at $200M
- $SNOW stock performance
- Ben playing football
More people have placed buy orders for $RSX than $MSFT today on Fidelity's brokerage platform. There's been 3 buy orders for every sell order. $RSX is never on this list btw. But retail has a soft spot for BTFD. pic.twitter.com/xiSkBMx85x
— Eric Balchunas (@EricBalchunas) March 2, 2022
Russian investors have 95% of their stock portfolios invested in Russian stocks. pic.twitter.com/FSfrnTcElx
— Jeffrey Kleintop (@JeffreyKleintop) March 1, 2022
US gas prices blow my mind, at $4/gallon that is still cheaper than the least I have ever paid for petrol in the UK, even at the absolute 2009 low in oil prices, even using the weakest sterling/dollar exchange rate on record.
— Mike Bird (@Birdyword) March 6, 2022
Food prices haven't been this high since 1974. pic.twitter.com/bEx31e9Jj6
— Jeff Weniger (@JeffWeniger) February 10, 2022
(Bloomberg) — Wheat Futures in Chicago jumped by the daily limit for the sixth straight session, rising 7% to $12.94 a bushel, and building on a massive surge of 41% last week, the most in records going back more than six decades.
— Teddy Fusaro 🌻 (@teddyfuse) March 7, 2022
State of Kentucky's Teachers Retirement System was the second-largest shareholder for Sberbank of Russia (The largest bank in Russia).
Their position dropped 95% in value from $13MM to $778K pic.twitter.com/1maUVcM5lH
— Market Sentiment (@mkt_sentiment) March 4, 2022
The previous three recessions and recoveries were generationally disastrou.
This labor market recovery is proceeding exceptionally briskly pic.twitter.com/ChmXT9joWT
— Skanda Amarnath ( Neoliberal Sellout ) (@IrvingSwisher) March 4, 2022
Just In: The US economy added back 678,000 jobs in February, greatly exceeding expectations and a sign the jobs recovery was on track (at least before Russia invaded Ukraine).
US Unemployment Rate = 3.8%
Wage growth = 5.1%
**Over 90% of jobs lost in the pandemic have returned**
— Heather Long (@byHeatherLong) March 4, 2022
Home prices are going to go up another 15%+ this year and I don’t think people have really absorbed that.
— Conor Sen (@conorsen) March 5, 2022
Russian App Store now versus last month. pic.twitter.com/uL40eCd4BQ
— Benedict Evans (@benedictevans) March 5, 2022
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