Two tweets from SentimenTrader paint a scary picture of current stock market breadth. Yesterday, he wrote: “The Dow is on track to close at a new 52-week (and all-time) high. Yet, there are 3 times as many 52-week lows as 52-week highs on the NYSE. Since 1965, that has happened on exactly one* other day….
Michael Batnick
Animal Spirits: Buy the Housing Dip
On this week’s Animal Spirits, we discuss: Is Howard Marks hurting investors? Jack Bogle still has it This is the top SoftBank is…not a bank The best portfolio My take on the perfect portfolio Fraud of the week Buy the housing dip J.P. Morgan’s New Guide to Markets Listen Here Charts Mentioned Tweets Mentioned https://twitter.com/NickatFP/status/1045692359638495234…
Stock Market Peaks
In the new edition of J.P. Morgan’s Guide to the Markets (H/T @ROIChristie), they show this incredible chart about what the average S&P 500 returns were 3, 6, 12, and 24 months following a stock market peak (and subsequent bear market). Charts like this convey an important message; They show that if you believe in…
These Are the Goods
Articles You won’t know the price of your asset until you go to sell it By Nick Maggiulli US grocery is the largest consumer category in the world, registering $641B/year in value By Scott Galloway People were literally lighting their money on fire By Ben Carlson Even if the long-term trajectory is better than average returns, the path to…
Animal Spirits: Looming Disaster
On this week’s Animal Spirits, we discuss: Do stocks diversify bonds? Can bonds be overvalued? Stocks when interest rates rise Thinking about looming disaster Klarman in 1999 Amazon microwave It’s like the internet in 1997 World poverty Betterment survey Dividend stocks are not bonds Beat the market, get more money Twilight of the terminal Listen…
The Next Generation
On the day of its IPO in May 1999, EToys’ nearly quadrupled in price. Toys ‘R’ Us did 300 times more revenue than the new kid on the block, yet after its first day as a publicly traded company, the brick and mortar store had a market cap that was 35% below it. EToys’ $7…
A World Lit Only By Fire
Josh and I spoke about A World Lit Only by Fire, which is a book that Jim Chanos recommended on Barry’s podcast. This book is a deep dive into how people lived during medieval times. We’re going to make these videos a regular occurrence, and hope that you’ll read along with us. Next time we’ll cover…
These Are the Goods
Articles While houses were being foreclosed and jobs were being lost by millions of Americans, my version of the recession was my parents losing their home and my university running out of pastries By Nick Maggiulli Just about anything is possible if we torture the data enough By Corey Hoffstein The era of senior Wall…
Animal Spirits: Borrowing From the Future
On this week’s Animal Spirits, we discuss: $250 trillion in debt Dalio could lose 1% a day for a year and still be worth $400 million Don’t take asset allocation advice from billionaires It’s hard to pinpoint how many assets are really indexed Survey Using the lottery to spur savings The long game J.P. Morgan…
Breakout
There’s a new kid on the block. Innovator’s IBD® Breakout Opportunities ETF, ticker BOUT. The goal of this fund is to identify stocks before they break out. Basically, they’re delivering on a style of technical analysis via machine, which I find intriguing. When I was trading stocks, I would often buy on the breakout and…
