'Monday’s vaccine rally has brought us to a prospective P/E not seen since December 2000, when a historically inflated market was in the process of returning to reality.' t.co/FrUYA8edhg by @johnauthers pic.twitter.com/5qdhYWZXSy
— Jesse Felder (@jessefelder) May 19, 2020
The relative total return of BRK to the SPX is at an 18-yr low. In other words, BRK has lagged the SPX since 2001.
The ratio is at the same level as 1995. With the exception of periods after tech’s collapse (2000) and the GFC (2008), BRK has only matched the SPX the last 25 yrs. pic.twitter.com/7r9Xju6Wpc
— Jim Bianco (@biancoresearch) May 19, 2020
"Whatever the Fed is doing here is not going to increase a company’s cash flow .. They can’t print earnings .. They can’t print jobs. They can’t create antivirals and a vaccine and get people confident to shop .." – @pboockvar
(h/t @BullandBaird)t.co/fkIhi87XrK
— Carl Quintanilla (@carlquintanilla) May 19, 2020
Here's a good chart of what I call the 'predatory financialization'-era of America, where Congressional corruption, along with the exploding power & unbelievable mission creep of the Fed, has led to the rise of the billionaire class, and the fall of the American middle-class. pic.twitter.com/Ajw7tPetWu
— Rudy Havenstein, get off my lawn. (@RudyHavenstein) May 19, 2020