4,072
-0.12%
4,072
-0.12%
11,461
-0.18%
11,461
-0.18%
34,430
0.1%
34,430
0.1%
1,812
-0.2%
1,812
-0.2%
17,057
0.53%
17,057
0.53%

Quote of @AutismCapital
So Larry let the cat out of the bag, BlackRock doesn’t do due diligence, they jump on bandwagons like everyone in VC land.
Larry Fink, Blackrock CEO, says Blackrock lost $24M in FTX. He shrugs it off when asked. He tries to rope Sequoia in with him and says that "they too did due diligence on FTX" and could have been misled.
1/4

FinTwit geeks need help on a technical issue

Payrolls are calculated via a survey called "establishment."

This survey only had a response rate of 49.4%, equaling a 32-year low (blue line). The red line is the response rate a month later on the first revision.
Once upon a time companies did due diligence. Then they passed in Snapchat (just a way to send dick pics), Uber, Zoom and others 100x+ winners.

All those prudent people got fired and “spray and pray” became the new due diligence.
Quote of @NickTimiraos
This is the catch-22 the stock market is stuck in.

Rally and ease financial conditions, GDP improves, per GS below.

The Fed can then stay hawkish and the “liquidity junkie” stock market does not get its fix of cheaper money (rate cuts in 2H 2023).

Hoe does it get resolved?
Financial conditions have eased since the October CPI report on Nov. 10 fanned investors' optimism that inflation will improve dramatically next year

Goldman Sachs says the easing in financial conditions over the last three weeks is worth 0.4-0.5 pp of GDP in 2023
Quote of @evan_lorenz
This is absolutely sickening.

Would someone please arrest this guy right now!
I get why the Feds want him to speak -- he does a great job of laying out the case against himself any time he opens his mouth -- but why wouldn't they arrest him after this conference?
Powell said the Fed looks for “significantly positive” real rates across the curve to assess how restrictive monetary policy is.

Every int. rate below (colored lines) is less than the inflation rate (black/gray). Powell uses Core PCE.

This means monetary policy is still loose.
The next bull market cannot start until a new all-time high is made. Not a 20% rally off the low (what this implies).

We already had a bull market at 34.440 ... in 2019.

Cannot pay for the same real estate twice.

--
*DOW JONES INDUSTRIAL AVERAGE SET TO ENTER BULL MARKET
The next bull market can start until a new all-time high is made. Not a 20% rally off the low (which is what this implies).

We already had a bull market at 34.440 ... in 2019.

Cannot pay for the same real estate twice.

--
*DOW JONES INDUSTRIAL AVERAGE SET TO ENTER BULL MARKET
From Powell today.

As many as 2M "excess retirements" are keeping jobs tight and causing wage inflation.

What caused this? Booming stock/housing markets in 2020/2021!

By this logic, today's rally on Powell's speech worsens things.

So, Jay, what are you going to do about it?
1/5

A quick take on Powell. Hope for bad news, and you'll get rich!

He did not say anything different than what he said in the November presser.

Many are "reaching" and trying to say he said they would only hike 50.

That has been priced in for a month. So, nothing new here.
Quote of @PiersUncensored
Notice he could not gave a specific number.

They cared so little about them to be bothered to keep track.
World Cup boss Hassan Al-Thawadi tells Piers Morgan 400-500 migrant workers have died as a result of work done on projects connected to the tournament.

"Yes, improvements have to happen."

@piersmorgan | @TalkTV | #PMUQatar
Quote of @LilMoonLambo
ETH is up nearly 5% tonight and the moonboys are back!

They are convinced Powell is going to green-light a rally in his speech Wed afternoon.

Good luck to them.
THE BULL MARKET IS BACK
Quote of @biancoresearch
Powell speaks at 1:30 ET on Wed.

Wall Street has been so desperate for a pivot that it falls apart every time he talks, including his 8-minute speech at J-Hole on Aug 26 (-3.37%), and his pressers on Sep 21 (-1.71%) and Nov 2 (-2.5%).

Will Jay kill the SPX again?
Quote of @biancoresearch
Powell speaks at 1:30 CT on Wed.

Wall Street has been so desperate for a pivot that it falls apart every time he talks, including his 8-minute speech at J-Hole on Aug 26 (-3.37%), and his pressers on Sep 21 (-1.71%) and Nov 2 (-2.5%).

Will Jay kill the SPX again?
~10% of the fund left yesterday!
——
More than $3 billion exited the $36 billion iShares iBoxx $ Investment Grade Corporate Bond ETF (ticker LQD) on Monday, Bloomberg data show. That’s the biggest one-day outflow since the fund’s inception in 2002.
~10% of the fund left yesterday!——More than $3 billion exited the $36 billion iShares iBoxx $ Investment Grade Corporate Bond ETF (ticker LQD) on Monday, Bloomberg data show. That’s the biggest one-day outflow since the fund’s inception in 2002.
This is bad news for stocks.

They want a recession so the Fed will stop hiking, and then start cutting soon afterwards.

The stock market is a liquidity junkie, it needs lower rates more than it needs better earnings.
This is bad news for stocks.

They want a recession so the Fed will stop hiking, and then start cutting soon afterwards.

The stock market is a liquidity junkie, it needs lower rates more than it’s better earnings.

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