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The Great Market Rotation
+ Raj Chetty, Naval, Guide to the Markets, Verdad, Owen Lamont & More
Together With
“We enter stocks like an old man lowering himself into a warm bath. It isn’t quick and it isn’t pretty.”
Research
New York Life Investments - Macro Pulse (68 pages)
NY Life published an economic and market outlook with commentary on investment themes (AI, supply chains & the US dollar) and various asset classes.
J.P. Morgan updated their Guide to the Markets through September 30, 2024.
Part I explains why an unwinding of hyper-concentration in the US may favor balanced global portfolios. Then Part II shares why the United States’ outsize weighting in commercial indices appears unjustified by its share of global GDP.
Facts & Figures
The Shanghai Stock Exchange composite rose 105% in one day in 1992. Link
Anguilla’s government made $32 million last year, more than 10% of its G.D.P., from companies registering web addresses that end in .ai. Link
Americans lost $5.6 billion last year in cryptocurrency fraud scams. Link
Historically, the installed base of pools has grown every year, even during recessions. Link
The secondaries market has grown at an average annual rate of 17% from 2013 to 2023. Link
The number of gamblers placing parlay bets is increasing, which benefits sportsbooks since parlays tend to have higher profit margins than straight bets. Link
The evolution of the US Treasuries ownership structure since 1999.
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LOOK BEYOND JUST DIVIDENDS
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Podcasts
Dr. Marty Makary talks about the blind spots in the medical industry that keeps Americans sick. Then Naval joins to discuss free speech and other current issues. |
Chetty shares what his latest research says about how and under what circumstances Americans move up the economic ladder. |
What Else Is Happening
Meb Faber spoke with Owen Lamont about market bubbles, passive investing and inefficient markets. Apple | Spotify | YouTube
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