One thing we all need to think through is the effect of the global slowdown on US corporate cash flows, hence their desire/ability to buy back shares as cash flows go negative. If that bid goes, there is no bid.

One thing we all need to think through is the effect of the global slowdown on US corporate cash flows, hence their desire/ability to buy back shares as cash flows go negative. If that bid goes, there is no bid. pic.twitter.com/COOdPbGevn

— Raoul Pal (@RaoulGMI) February 23, 2020

https://twitter.com/hks55/status/1231631187573170178

https://twitter.com/hks55/status/1231604835008602112

u.s. equity futures getting walloped pic.twitter.com/lKFoplAob1

— Alastair (@StockBoardAsset) February 23, 2020

https://twitter.com/yuriymatso/status/1231466190360342529

In 2011, at 5x book the Economist warned of a potential bubble.

Nearly a decade later, Apple is 15x book. This time, after a massive bull run, the Economist has a different attitude towards tech. https://t.co/RPEaYpLMul

— Win Smart, CFA (@WinfieldSmart) February 23, 2020