For August 2020, we highlight the importance to productivity of waking up properly, the plight and pain of traditional value managers, a must-read white paper on value investing and technology and several other trending topics in the current market ie. Tesla, China, Tech etc.
August 2020 – Market in Pictures
I was thinking about the trend of quitting coffee that’s popular on twitter lately… This might be a mistake.
I wonder how many significant coffee fueled ideas/ advancements the world is going to miss out on pic.twitter.com/hQeFPZ7dgO
— JT (@jerryteixeira) August 13, 2020
— RenMac: Renaissance Macro Research (@RenMacLLC) August 13, 2020
Q2 Summary SPY Trading Sessions:
Day Session: -2.78%
After Hours: +21.50%
(also, night is 300 bps ahead of day in first three days of Q3) pic.twitter.com/Zp5aVhhsJz
— Not Jim Cramer (@Not_Jim_Cramer) July 6, 2020
$MCD has pretty interesting debt growth over the past five years.
A lot of companies have similar patterns; a big equity-to-debt shift in capital structures via debt-fueled buybacks. pic.twitter.com/AHB8WT9wPw
— Lyn Alden (@LynAldenContact) August 18, 2020
Airline industry ROIC vs weighted average cost of capital (2015 vs 2020 studies) https://t.co/KezlWHu57Q pic.twitter.com/zy1uKKZD3A
— Hurricane Capital (@HurriCap) August 11, 2020
— Finding Moats (@Finding_Moats) August 11, 2020
Growth vs Value &&&&&&
Tech vs SP500 pic.twitter.com/MJUgdesAk7
— HedgedIn (@noalpha_allbeta) August 13, 2020
it’s less about “Growth” stocks vs “Value” stocks and more about the fact that Technology is working and Financials are not. Don’t over-complicate things. pic.twitter.com/Jvg63pemo3
— J.C. Parets (@allstarcharts) July 11, 2020
Hot Take: Forget about the valuations across some tech stocks for a moment (which I feel CAN not necessarily WILL grow into their valuations), the stock that seemingly CANNOT grow into its valuation is $CMG.
60x 2021 earnings for a burrito company.
— Jake (@EconomPic) August 19, 2020
Thick old utes pic.twitter.com/eM9wy6TYHS
— HedgedIn (@noalpha_allbeta) August 13, 2020
Big Tech now accounts for 31% of US stock market cap in a warning sign. In the 1980s, oil accounted for 25%, it’s now <3%. Tech ballooned to over a third of the index in 2000 before crashing. And finance had its day in the run-up to fin crisis of 2008-09. https://t.co/s6kYbG1TwQ pic.twitter.com/Sz5JgXKdvE
— Holger Zschaepitz (@Schuldensuehner) August 12, 2020
Industrials (red) have held up well against tech (blue). pic.twitter.com/v1xhr90Ra1
— Eddy Elfenbein (@EddyElfenbein) August 13, 2020
The world’s hottest stock is a money-losing tech giant soaring 880% in past 18mths. Singapore-based Sea is surging as bulls see a Tencent-Alibaba mash-up; bears see a bubble. https://t.co/n7GUaLjNjK pic.twitter.com/1Y6HhC1IaD
— Holger Zschaepitz (@Schuldensuehner) August 5, 2020
“Value investing has rotated into a massive bet against technological disruption. This position cuts across diverse industries but can be isolated using machine learning. The anti-tech bet explains value’s ongoing drawdown.” https://t.co/h0GJ8A26k9
— Tobias Carlisle (@Greenbackd) August 12, 2020
Think these are the perfect test case for whether non-transparent ETFs will work.
T. Rowe ETFs are using same portfolio managers as the mutual fund versions, which have nearly $160bil in assets.
Respected active strategies now available in ETF wrapper. Do investors want?? https://t.co/KOSL93W5qb
— Nate Geraci (@NateGeraci) August 5, 2020
What growth rates are y’all using in your models?
Oopsies… 🙃 pic.twitter.com/vxS6jq0KM2
— Jake Taylor (@farnamjake1) August 7, 2020
4. Intangible Assets
— Plan Maestro (@PlanMaestro) August 16, 2020
Global corporate earnings in an historical perspective since ‘88. pic.twitter.com/d1KoIvNjPg
— Julien Bittel, CFA (@BittelJulien) July 28, 2020
Asset class performance during decades of #USD decline… pic.twitter.com/xCF4G7RcQu
— jeroen blokland (@jsblokland) August 1, 2020
Was this the Tesla of the 1920’s? pic.twitter.com/VBZOAIBBu7
— The Chart Store (@TheChartmeister) August 17, 2020
RCA: The most-beloved growth stock of the 1920’s. pic.twitter.com/GMxl3sDzSZ
— Walter Deemer (@WalterDeemer) July 30, 2020
China could overtake the US as the world’s largest economy by 2024 https://t.co/ogVq86UxMh #International #Economics pic.twitter.com/U0BPxLq5cX
— World Economic Forum (@wef) August 2, 2020
Large population decline expected in China and India https://t.co/NiyHwulCLT #Population #Demographics pic.twitter.com/vmfLoHIZhJ
— World Economic Forum (@wef) August 29, 2020
— Ramp Capital (@RampCapitalLLC) August 13, 2020
Stock charts as landscape art
HT @kottke https://t.co/rzahlTR6ON pic.twitter.com/ByYYTCxUfn
— faris (@faris) August 24, 2020
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