Best question of the year?

Although the year is not over, this question must be in the running: https://twitter.com/TheLastBearSta1/status/1438171695685283847

The Bill Hwang effect

For anyone following the markets during the last few decades the absence of effective enforcement or regulation of markets by captured regulatory agencies is not only not a surprise but a necessary factor to consider and weigh in the consideration of prices, very much, if not more so, like interest rates or employment data. Just…

Records and not so much

Not the whole pictureAs the Fed money printing eases, it is curious to see some issues still running higher. The present day 1920s RCA stock, TSLA, is of course the example that attracts all the media attention (and trading volume apparently as it now starts to push out AMZN in volume numbers). The 8x move…

Zoom indeed

Records are being broken in the US equity market (this-is-the-greatest-50-day-rally-in-the-history-of-the-sp-500). Heavy intervention in credit and other markets, along with billions in corona virus payments which have flowed into equity markets, have resulted in an epic bounce. Naturally, euphoria brings forward head scratching valuation. Today’s entry briefly notes the state of ZM after earnings.The Internet bubble…

stock buyback effects as illustrated by CAT

As pointed out by www.zerohedge.com, since 2011 CAT worldwide sales growth has been declining yet the stock price is near all time highs due to buybacks. I have overlaid Zero Hedge’s chart of sales, expressed in terms of percentage growth, over the chart from the excellent StockTouch app to make this divergence clearer with 2010 to 2014…