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On today’s show we discuss:
- Eight charts that explain the market
- Melvin Capital tries unwinding its current fund for a new one
- Plotkin abandons new fund plan, apologizes to investors
- Chipotles VC fund
- 3 reasons inflation might be peaking
- Age demographics and US housing
- Homebuilders having trouble with supply chain
- Netflix earnings
- Tesla earnings
- Fidelity to allow bitcoin exposure within 401Ks
- CNN+ a failure
- Ben Affleck and Matt Damon star in an upcoming movie about Nike’s shoe deal with Michael Jordan
Animal Spirits NFTs:
- Animal Spirits Community NFT
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Current bond ETF drawdowns:
TLT (20+ yr treasuries) -28.6%
IEF (7-10 yr treasuries) -15.2%
LQD (corp bonds) -15.0%
IEI (3-7 yr treasuries) -9.4%
JNK (high yield bonds) -7.2%All of these bond losses are worse than the current drawdown in the S&P 500 at -6.9% pic.twitter.com/OzDtLAIfAE
— Ben Carlson (@awealthofcs) April 19, 2022
This chart that supports this statement. It is the total return of the former Lehman, then Barclays, and now Bloomberg US domestic Aggregate Index.
It goes back to the mid 1970s and the bond market's losses have never been this bad. Not even 1979, 1980 and 1981 (monthly calc) https://t.co/JtuY4GEL84 pic.twitter.com/A9rQrcYpee
— Jim Bianco (@biancoresearch) April 21, 2022
that was the tax selling and its over… there is NO more supply in equities only demand going forward in the st/med turn https://t.co/dXqCydsITt
— FxMacro (@fxmacro) April 20, 2022
Short duration stocks (low price to cash flow) continue to outperform in markets around the world, as they have since interest rates began to rise in August 2020. pic.twitter.com/dj2jDFfhWU
— Jeffrey Kleintop (@JeffreyKleintop) April 21, 2022
Elon's 13D today outlines the beginnings of contractual #fundingsecured for $TWTR:
• $13.0B of debt financing: MS
• $12.5B of margin lending: MS for Elon (his $TSLA holdings)
• $21.0B equity commitment from @elonmusk
= >$43BThis is not the behavior of an unserious person. pic.twitter.com/241g2KITsy
— Compound248 💰 (@compound248) April 21, 2022
— *Walter Bloomberg (@DeItaone) April 21, 2022
MELVIN HAS LOST 51.8% SINCE JAN. '21 THROUGH MARCH: DJ
— zerohedge (@zerohedge) April 21, 2022
https://twitter.com/AnitaRamaswamy/status/1518583394929717248
Crypto startup funding is still red hot even though total funding into startups has fallen from late last year—crypto startups raised $10 billion globally in the first quarter of this year, up 13% from the previous quarter.https://t.co/pucIr2uwJN pic.twitter.com/eYxkMqtjdD
— The Information (@theinformation) April 19, 2022
Amazon launches $1 billion fund to invest in warehouse technologies https://t.co/O3peZL3Ule
— CNBC (@CNBC) April 21, 2022
“The numbers confirm that despite what consumers are saying about inflation, they are still spending. Banks' earnings calls indicate the US consumer remains very active. Several banks characterized spending as “strong” and hinted at the capacity for this to continue…” WellsFargo
— Sam Ro 📈 (@SamRo) April 21, 2022
Household Cash Exceeds Debt for the First Time in Three Decades
(via Deutsche) pic.twitter.com/NzNhESOwPQ
— Carl Quintanilla (@carlquintanilla) April 20, 2022
US gasoline consumption is running 3% lower than last year, a worrisome sign about consumer spending patterns.$XLE $PSCE $SPY pic.twitter.com/SNGvxxv1cC
— Nick Colas & Jessica Rabe (DataTrek) (@DataTrekMB) April 22, 2022
With gas prices around record highs, will Americans hit the brakes and drive less in the coming months? pic.twitter.com/jtygxcCmr3
— YCharts (@ycharts) April 22, 2022
Number of housing units authorized but not started has surged to highest since the 1970s pic.twitter.com/MrhXBJ4shg
— Liz Ann Sonders (@LizAnnSonders) April 20, 2022
No signs of reversal yet for housing market tightness … spread between completions and construction is most negative in history pic.twitter.com/vt3sXXqHjS
— Liz Ann Sonders (@LizAnnSonders) April 20, 2022
At 5.20%, the average rate on a 30-year mortgage is now the highest since 2010, according to the Mortgage Bankers Assoc. pic.twitter.com/4kunE2sAAc
— Robert Burgess (@BobOnMarkets) April 20, 2022
Mortgage application activity continues to stumble with @MBAMortgage Index hovering at lowest since 2019 pic.twitter.com/caVGAxss6e
— Liz Ann Sonders (@LizAnnSonders) April 21, 2022
The first #Bitcoin Futures ETF approved under the '33 Act now carries the Hashdex brand.
Hashdex has over $750M AUM.https://t.co/ry5FSW2Wyc
— Blockworks (@Blockworks_) April 20, 2022
So apparently Bill Gates hit up @elonmusk to discuss “philanthropy on climate change” but Elon asked if he still had a half billion dollar short position on $TSLA.
Bill said he hasn’t closed it out, so Elon told him to get lost. No idea if this is true lol pic.twitter.com/iuHkDG3bAd
— Whole Mars Catalog (Supervised) (@WholeMarsBlog) April 22, 2022
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