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Cory’s Chart Corner
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As per the historical script, we are in the distribution phase of the equity cycle and the bag holder is always the same, Mr. & Mrs. Retail. h/t @GlobalMktObserv
🔴Hedge funds are offloading Magnificent 7 stocks at an UNPRECEDENTED pace:
Hedge fund net exposure to the Mag 7 is down to ~17% of total North American net exposure, near the lowest in 3 years.
At the same time, the top-most purchased stocks by retail investors last week were
Daily Archives: August 21, 2024
Extreme over-valuations suggest years of negative returns
At 35x the average of the past decade’s earnings, adjusted for inflation, the S&P 500 basket of stocks is the third most expensive since 1871 (CAPE, in blue below, versus long-term interest rates in red, courtesy of Shillerdata.com). It is … Continue reading
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