Michael Antonelli @BullandBaird -The 10 year is at 3.42% -We've added 1 mil jobs this year -Home prices have stabilized -inflation is falling -consumers are spending -$SPX is +7% YTD at 4100 -Spring is here Aren't things actually....fine? 10:03 AM · Apr 11, 2023 · 65.9K Views
I'm as skeptical on Bitcoin as anyone but the energy usage thing is a huge red-herring. You can easily find just as many articles highlighting almost the exact opposite of that NY Times article. Case in point:
Bitcoin is many things but it's not inherently stealing people's electricity and it's probably actually far cleaner than the traditional finance system to be honest. Funny how no one measure how much energy that uses!
From Wikipedia: "The Competitive Enterprise Institute (CEI) is a non-profit libertarian think tank founded by the political writer Fred L. Smith Jr. on March 9, 1984, in Washington, D.C., to advance principles of limited government, free enterprise, and individual liberty. CEI focuses on a number of regulatory policy issues, including business and finance, labor, technology and telecommunications, transportation, food and drug regulation, and energy and environment in which they have promoted climate change denial"
Good find. Climate Change Deniers. read: POS.
Let me know when you find something from a reputable source. Until then, bitcoin deserves every bit of regulation countries like China throw at it. Oh, they've essentially killed it there because it is such a bad idea.
Touche. How about the World Economic Forum then? I never said that Bitcoin mining doesn't use energy but so does everything and no one bats an eyelid. No one is writing articles slamming everyone for doing their laundry.
This poster has a huge 197,000 followers on twitter. He seems to be saying that the economy would be slowing sharply in the 1Q, causing inflation to drop. Didn't come true. GDP Now thought the 1Q would be +0.8% real GDP growth about when he wrote that...now GDP Now thinks the 1Q will be +2.2%.
Although he never uses a topic sentence so who knows what he really meant. See what I mean, gente?
AndreasStenoLarsen @AndreasSteno Equity markets right now: Hallelujah, inflation is falling Equity markets in 2-3 months: OOOOH, that what why inflation was falling
This poster has a huge 197,000 followers on twitter. He seems to be saying that the economy would be slowing sharply in the 1Q, causing inflation to drop. Didn't come true. GDP Now thought the 1Q would be +0.8% real GDP growth about when he wrote that...now GDP Now thinks the 1Q will be +2.2%.
Although he never uses a topic sentence so who knows what he really meant. See what I mean, gente?
AndreasStenoLarsen @AndreasSteno Equity markets right now: Hallelujah, inflation is falling Equity markets in 2-3 months: OOOOH, that what why inflation was falling
From what I can tell., this inflation number is being taken as a positive because if you strip out housing, inflation is falling more than the headlines or core suggest.
And the conventional wisdom is that in May and June housing's high impact on rising inflation will start to ease and stay eased. So headline and core will start falling more at that point.
Got to give someone credit, though, about shorting Nvidia. Even on a massive up day, it gradually moved into the negative column for the day, and I think it's been 3 down days in a row now.
Got to give someone credit, though, about shorting Nvidia. Even on a massive up day, it gradually moved into the negative column for the day, and I think it's been 3 down days in a row now.
I read an interesting idea on stocks like NVDA...we worry when we read things like 'stock market being carried by 5 stocks' but apparently that is very common and does not lead to bad outcomes. It's just the way things work. Much stock market return is very often from a very small number of very successful companies.
Got to give someone credit, though, about shorting Nvidia. Even on a massive up day, it gradually moved into the negative column for the day, and I think it's been 3 down days in a row now.
I read an interesting idea on stocks like NVDA...we worry when we read things like 'stock market being carried by 5 stocks' but apparently that is very common and does not lead to bad outcomes. It's just the way things work. Much stock market return is very often from a very small number of very successful companies.
Outside of 2000-2002 the market(s) have always had great years after bad years. We had a very bad year in 2022. We are in the midst of having a great 2023.
Here is what these stocks have done so far this year ...
AAPL - up 27%
MSFT - up 20%
GOOGL - up17%
NVDA - up about 85%
AMZN - up 23%
TSLA - up 68%
This may not always be true, but anyone missing out on these stocks is really missing out.
I read an interesting idea on stocks like NVDA...we worry when we read things like 'stock market being carried by 5 stocks' but apparently that is very common and does not lead to bad outcomes. It's just the way things work. Much stock market return is very often from a very small number of very successful companies.
Outside of 2000-2002 the market(s) have always had great years after bad years. We had a very bad year in 2022. We are in the midst of having a great 2023.
Here is what these stocks have done so far this year ...
AAPL - up 27%
MSFT - up 20%
GOOGL - up17%
NVDA - up about 85%
AMZN - up 23%
TSLA - up 68%
This may not always be true, but anyone missing out on these stocks is really missing out.
I'm missing out on TSLA, but that is the only one. And I am not buying Tesla, which of all that group mentioned, has dropped the most from its high back in November 2021, and by a lot.
Interesting chart showing their relative performance since the ATH back in 11/21 (and Apple and NVDA are leading the rebound:
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Outside of 2000-2002 the market(s) have always had great years after bad years. We had a very bad year in 2022. We are in the midst of having a great 2023.
Here is what these stocks have done so far this year ...
AAPL - up 27%
MSFT - up 20%
GOOGL - up17%
NVDA - up about 85%
AMZN - up 23%
TSLA - up 68%
This may not always be true, but anyone missing out on these stocks is really missing out.
I'm missing out on TSLA, but that is the only one. And I am not buying Tesla, which of all that group mentioned, has dropped the most from its high back in November 2021, and by a lot.
Interesting chart showing their relative performance since the ATH back in 11/21 (and Apple and NVDA are leading the rebound:
Note: didn't have room to show MSFT, which is mid-range.
You really can't look a high tech stock like TSLA over such a short stretch like that. During the middle of 2019 TSLA was trading at $13 andnow it is at $185.
I'm missing out on TSLA, but that is the only one. And I am not buying Tesla, which of all that group mentioned, has dropped the most from its high back in November 2021, and by a lot.
Interesting chart showing their relative performance since the ATH back in 11/21 (and Apple and NVDA are leading the rebound:
Note: didn't have room to show MSFT, which is mid-range.
You really can't look a high tech stock like TSLA over such a short stretch like that. During the middle of 2019 TSLA was trading at $13 andnow it is at $185.
I did really well with it before it was listed on the S&P 500 about 18 months ago or so. I knew that was the end of the good times, and only dabbled since then, totally abandoning it when Elon started with the series of Twitter blunders and annoying social commentary.
Also around the worst day of the financial crisis in March there was much talk about the sharp rise in the MOVE index. (the bond equivalent of the VIX.)
This poster (33,000 followers) thought it foretold problems.
It did not - the spike in the MOVE index marked a good buying point for stocks and bonds.
One month returns:
Stocks: +7%
Bonds: +1%
Reading financial news can be dangerous to your financial health.
Jonesy @HedgeyeDJ The Move index, a measure of bond volatility, is inching in on 200. This is close to the highest level in the history of the index. It's probably nothing.
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