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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
Category Archives: Main Page
Vacation plans shrink with consumer confidence
According to the University of Michigan’s preliminary May survey, the U.S. Consumer Sentiment Index fell to 50.8, down from 52.2 in April. This marked the second-lowest reading in the survey’s nearly 75-year history, surpassed only by June 2022. The decline … Continue reading
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Yes, you can lose money in real estate
In the ‘easy-money’ ultra-low rate era, there was a lot of demand from secondary property owners for recreation or renting to others. Most were over the age of 50. An increasing number will look to sell to lower overhead/upkeep and … Continue reading
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Retail gone wild (encore)
The S&P 500 risk premium—forward earnings yield minus the 10-year Treasury yield—is once again about zero (below since 2000, via The Daily Shot). Such dismal equity risk-reward prospects have only been seen once in the last quarter century and that … Continue reading
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