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On today’s show, we discuss:
- Getting 2023 spectacularly wrong
- Why Wall Street is gung-ho on the housing market
- Entire police department in Minnesota city resigns
- Index-tracking ETFs were all the rage, until now
- Performance after peak valuation: Navigating the tech sector’s high multiples
New SF Fed paper on shelter inflation
Can shelter go negative into 2024 from the 8% currently biasing official stats?
Good to see someone at the Fed cares about the biases in shelter @SamuelRines
— Jeremy Schwartz (@JeremyDSchwartz) August 8, 2023
At 40x trail 12m sales, 25x fwd sales, Nvidia is highest valuation stock of any stock in top 500
Odds it out-performs now? 231 companies reached similar multiple last 50+years
Only 20% beat market next 12m.
>90% fail 3/5/10 years.
Median stock loses by 36% next 12m.
— Jeremy Schwartz (@JeremyDSchwartz) July 28, 2023
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