Look familiar?
Mid-February:
"Stocks climb amid virus outbreak"
Today:
"Stocks climb amid protests" pic.twitter.com/JnMCjxK129
— Otavio (Tavi) Costa (@TaviCosta) June 2, 2020
2020:
-US & Iran on the brink of a war
-Virus outbreak
-Recession starts
-Oil prices go negative
-40M people unemployed
-Fed prints record amounts
-Government borrows record amounts
-US & China relations heat up
-Riots everywhereAnd stocks are record overvalued.
Adding up? pic.twitter.com/HOuVDfzLb8
— Otavio (Tavi) Costa (@TaviCosta) May 31, 2020
Valuation mania still unbroken.
Average market cap to GDP ratio when bear markets and recessions bottom out: .47
67% lower than today.
Tremendous opportunity on the short side as we take out the fake lows of 2018 and 2020.
Too few investors are positioned for it. pic.twitter.com/Z0QeNlLlJQ
— Kevin C. Smith, CFA (@crescatkevin) May 31, 2020
https://twitter.com/ThinkTankCharts/status/1267809353622597633
'Side effect of riots is city #businesses will get huge property #insurance increases.'
Hey, here's a side effect:
After being shut down for months by govt, then destroyed by riots, many biz's won't reopen.#SideEffect#smallbusiness #smallbiz #Tuesdayhttps://t.co/V1idDBgiVw— Beverly A. Pekala (@PekalaLaw) June 2, 2020
— M/1_LP (@MI_Investments) June 2, 2020
U.S. companies issue shares at fastest rate ever, selling the rally
We’ve stressed government #stimulus isn’t actually “stimulus” it’s a cushion. Needed but not high multiplier additive. Now non-partisan #CBO agrees with our prior assessment. (Source: @WSJ w/RBA emphasis) pic.twitter.com/WjocOPVdpn
— Richard Bernstein Advisors (@RBAdvisors) June 2, 2020