The Ponzi scheme is about to blow up pic.twitter.com/356bZSmtAg
— Alessio (@AlessioTMAD) November 11, 2019
https://twitter.com/NorthmanTrader/status/1193621439087288322
As of today the gap between Q3 GAAP EPS & non-GAAP stands at $5.25 or 14.9% higher which is near levels generally associated w/ recessions. Annualized Q3 earnings implies 22x P/E on $SPX. pic.twitter.com/NntldXzCku
— Greg (@GS_CapSF) November 11, 2019
Per fund manager survey, cash levels had largest monthly drop since Nov16, reaching lowest levels since 2016. #FOMO pic.twitter.com/QHeKX5vrpe
— Driehaus Capital Management (@DriehausCapital) November 12, 2019
As Morgan Stanley said Monday:
" .. the Fed's aggressive actions worked — at least in terms of asset price inflation. .. What the Fed has not been able to do is change the trajectory of earnings growth." https://t.co/fRJX8I9DEs
— Carl Quintanilla (@carlquintanilla) November 12, 2019
https://twitter.com/NorthmanTrader/status/1193642447294943234
The forward 12-month P/E ratio for $SPX is 17.4, which is above the 5-year average (16.6) and the 10-year average (14.9). https://t.co/5l2MKcaI7o pic.twitter.com/hTEVItIlVw
— FactSet (@FactSet) November 10, 2019
Even the SEC Commissioner is agreeing with me on this one! Of course it’s manipulation. That’s literally the entire purpose of it. 97% of companies use non-GAAP accounting, they buyback their own stock, many are in excessive debt on all levels, they are running off of easy money policies, and all of the other insanity going on today. OF COURSE stocks are up! They have absolutely no excuse to ever be down with all of this sorcery and alchemy! But don’t ever give a single shred of legitimacy to it. It doesn’t deserve it… even for a moment.