Markets Have Not Hit the ‘Absolute Bottom’ Yet, Says Mark Mobius
“I don’t think we’re at the absolute bottom yet because the implications of this shutdown are incredible,” Mark Mobius, the founding partner of Mobius Capital Partners, said. He added that “things are pretty bad” from the perspective of corporate earnings.
Why the Stock Market Is Nowhere Near a Bottom
S&P 500 could tumble to a range between 1,275 and 1,710 before a bull market resumes, writes Cam Hui.
1. Investors are too bullish
2. No technical signs of a long-term bottom
3. Valuation headwinds
4. What are smart investors doing? Here is another way of thinking about valuation. Insiders stepped up and bought heavily during the most recent downdraft, but this group of “smart investors” backed away as the market rose.
https://twitter.com/NorthmanTrader/status/1250054209627537409
Buybacks have been jet fuel for the post-2008 US market rally – exceeding capex the last two years running, for the first time on record – but are now coming to an end. pic.twitter.com/mwAjtVgDCy
— Robin Wigglesworth (@RobinWigg) April 14, 2020
#recession … #GFC2 edition
Companies taking out more #debt to rescue other companies that are insolvent from too much #debt, made possible by an #SEC rule change this year that allows them to #leverage themselves even more… isn't this how #Ponzi #schemes work? 🤔 👇 https://t.co/jlyxeWGIt5
— Invariant Perspective (@InvariantPersp1) April 13, 2020
Global #Automobile Sales Plunge in March 2020 https://t.co/z2785k8FUy pic.twitter.com/OIxPUznci9
— Tracy Shuchart (𝒞𝒽𝒾 ) (@chigrl) April 14, 2020