Oops.
S&P 500 earnings real yield is at its lowest level in a decade!
Prior lows were also times that gold outperformed equities.
What’s different this time?
Stocks have never been at record highs with fundamentals severely depressed.
Never.
Time to buy gold & sell stocks. pic.twitter.com/Yiw4h4DS6Q
— Otavio (Tavi) Costa (@TaviCosta) August 19, 2020
Fund managers starting to believe this nonsense pic.twitter.com/Uny4XsqL7i
— Win Smart, CFA (@WinfieldSmart) August 21, 2020
Amazon: profit up 100%
Walmart: profit up 80%
Target: profit up 80%
Lowe's: profit up 74%
Microsoft, Facebook, Apple, Google: stock at record highSmall businesses: 21% closed; revenue for rest down 30%
We're seeing a monumental wealth transfer from mom & pops to conglomerates.
— Dan Price (@DanPriceSeattle) August 20, 2020
Risk On is turning Off pic.twitter.com/40pqmSzXV6
— Win Smart, CFA (@WinfieldSmart) August 21, 2020
— M/I_Investments (@MI_Investments) August 21, 2020
A matter of when NOT if .
Insanity . pic.twitter.com/3ALFjTH8TP— The Great Martis (@great_martis) August 20, 2020
BUYBACKS & DIVIDENDS pic.twitter.com/aZbkNt8rvP
— Win Smart, CFA (@WinfieldSmart) August 21, 2020
The 1990s as a decade of elite failure that got us to the moment we live in today….https://t.co/tFzXg6Ex9m pic.twitter.com/F7aAfSAw8l
— M/I_Investments (@MI_Investments) August 20, 2020
#Fed balance sheet back >$7tn, giving investors the green light for further stock mkt gains as S&P 500 P/E trades in tandem w/ Fed balance sheet. pic.twitter.com/EPOZ0jAw2i
— Holger Zschaepitz (@Schuldensuehner) August 21, 2020
Last 20 years. All of this bubble-driven madness was avoidable. But bubbles were tacit Fed policy.
The scorecard is the GDP growth rate chart🤦♂️= #FAIL
Now we've gone from $5T ('00) to to $30T ('21) in debt; and bubbles dangerously atop a weak economy saddled in debt. #LBO_USA pic.twitter.com/I1guFKF4aj
— M/I_Investments (@MI_Investments) August 21, 2020
Who would have thought……
Used car prices are the new Nasdaq..….
That’s with:
– Delinquency rates surging
– 10% unemployment rate
– Auto sales still 20+% below its 2017 highs.We are living in a bizarre “free money” world. pic.twitter.com/hZhPpn5maW
— Otavio (Tavi) Costa (@TaviCosta) August 21, 2020
"Growth engine of the world" pic.twitter.com/GOCR52K7c9
— M/I_Investments (@MI_Investments) August 21, 2020
6 stonks only go up pic.twitter.com/jryA8tmuqa
— Alessio Urban (@AlessioUrban) August 20, 2020
GASOLINE DEMAND pic.twitter.com/vSMkvWaCW9
— Win Smart, CFA (@WinfieldSmart) August 21, 2020
If you can make 10% a week, every week, you can become rich… https://t.co/8riYjnsMqA
— GuruLeaks (@Guruleaks1) August 21, 2020