Today’s Animal Spirits is brought to you by YCharts:
See here for YCharts’ latest research on the real impact of mega-cap stocks on your portfolio.
On today’s show we discuss:
- Targets margins are getting squeezed
- The state of the economy survey
- Wages are still going up
- The dark side of the hot labor market
- Job growth remains strong
- The tech crash could lead to a talent bonanza for big tech
- Retail investors are buying U.S. Government Bonds
- The worst years ever for a 60/40 portfolio
- BlockFi is raising a down round
- Myth-busting: is the US Dollar losing reserve currency status?
- The U.S. and Europe have different inflation problems
- 1/3 of Americans making $250k are living paycheck to paycheck
- U.S. savings rate lowest since 2008
- Buy now pay later companies being tested
- Housing affordability
- Ric Edelman on Crypto, retirement planning, the advice business, and more
- Bipartisan Crypto bill
- Solana suffered its second outage in a month
- Coinbase slowing hiring
- The Netflix token
- The U.S. is in a pessimistic mood
- The SECs Meme Stock video
- Demand for the CFA falls off a cliff
- The interrobang
- Top Gun: Maverick is killing it
- Netflix’s leaner movie selection
Future Proof Festival:
- Top Gun: Maverick music
- Everybody Wants Some
- James Earl Jones
- We Own This City
When y’all think they going to announce that we going into a recession?
— Cardi B (@iamcardib) June 5, 2022
1.2 million jobs created in the last 3 months — this isn't anything close to a recession.
— Conor Sen (@conorsen) June 3, 2022
Following its 5/31 re-balance, the index underpinning $MTUM now has ~4.5X the exposure to energy stocks as the MSCI USA Index and ~1/3 as much tech exposure.
Source: MSCI pic.twitter.com/zJVN5J4wq4
— Ben Johnson, CFA (@MstarETFUS) June 6, 2022
*TIGER GLOBAL LOSSES FOR YEAR REACH 52% AFTER DROP IN MAY
— zerohedge (@zerohedge) June 2, 2022
"Tiger Global has seen five times more inflows than the amount of redemptions requests"
Lesson for every new hedge fund: lose billions to get more investors
— zerohedge (@zerohedge) June 2, 2022
The $SPX Consumer Discretionary sector has seen the largest cuts to EPS estimates for CY 2022 over the past 2 months, while the $SPX Energy sector has seen the largest increases to EPS estimates. #earnings, #earningsinsight, https://t.co/H8mSsOQAOV pic.twitter.com/3ROuEkGTuK
— FactSet (@FactSet) June 3, 2022
The DXY is a measure of how the dollar is performing against six currencies. The three heaviest components are extremely short energy.
The US is essentially energy balanced.
The dollar is weakening against energy exporters.
In an energy crisis, energy explains most things. pic.twitter.com/01OjuyOEv7
— Doomberg (@DoombergT) June 7, 2022
*WELLS FARGO CEO SAYS DEPOSIT LEVELS HIGH, BUT COMING DOWN
— *Walter Bloomberg (@DeItaone) June 1, 2022
Listing Price Drops pic.twitter.com/bAXCzfEpdP
— Win Smart, CFA (@WinfieldSmart) June 1, 2022
America produces 2M households earning $100K+ every year, and only 1.4M brand-new houses. https://t.co/Olkw8KZ1an
— Payton Chung (@paytonchung) June 4, 2022
Game over for Uncle.
A thread on how I went from a crypto-millionaire to broke in 6 months due to leverage, a gambling addiction and an accelerating negative spiral.
Below is a full serie of liquidation mails over the last 6 months. Lost my last hand yesterday.
— Uncle (APE certified) 🧢 (@UVtho) June 7, 2022
Layoffs at Gemini.https://t.co/Z9pB7IgWSp
— Joe Weisenthal (@TheStalwart) June 2, 2022
Not Boring is coming out a little later in the week.
It's been a rough weekend. We've been in the hosptial w Dev since Saturday. Still here. Luckily, he'll be OK, but obv newsletter wasn't 1st prio.
Meanwhile, I'm getting crushed for a brain fart, which I want to talk about. pic.twitter.com/DRHoHqjxmF
— Packy McCormick (@packyM) June 6, 2022
NBA sponsorship revenue rose 12.5% during the 2021-22 season to a record $1.64 billion.
The total is up 90% from five years ago. A bevy of new arena naming rights and jersey patch deals added an additional $180 million to NBA coffers this season, pic.twitter.com/soBlx8GKHO
— Sportico (@Sportico) June 1, 2022
Netflix will stop green-lighting “expensive vanity projects” such as ‘The Irishman’.
“This tendency to do anything to attract talent and giving them carte blanche is going away,” says one source.
— DiscussingFilm (@DiscussingFilm) June 1, 2022
Contact us at firstname.lastname@example.org with any feedback, recommendations, or questions.
Check out our t-shirts, stickers, coffee mugs, and other swag here.