"In his  commentary Andreessen discussed 17 then or-since listed digital disruptors, more than 1/3 of which have subsequently declined in market value...he also referenced 10 old-economy laggards, all of which have delivered positive real returns."https://t.co/BiImnl1MHxpic.twitter.com/n4Fpt9UB2z
U Mich consumer sentiment current conditions rose to its highest level since April. Gas prices down, unemployment at a 50-year low, 3-month inflation very low, back half of 2022 3%+ real GDP growth. pic.twitter.com/fQYqlbax3i
Rolls-Royce CEO: "We haven’t seen any slowdown or downturn. We haven’t seen any negative impact. I’m not saying we’re immune from recessionary tendencies. We have seen years when our business was affected...I’m cautiously optimistic about us delivering another strong year in '23"
It really is astonishing that core CPI is back at 3.1% on a 3-month annualized basis from a peak of 10.0% in June 2021 (still up moderately from 2.5% in Feb 2020) and the unemployment rate is at 3.5%. That is some seriously good news
B of A: $COIN volume in December (first full month post-FTX collapse) "were just $34B, less than half of COIN’s 1Q22-3Q22 monthly average of ~$76B. .. we think consensus revs for ’23 could be way too high. Lower PO to $35 .."
Counterpoint: Strategists at BCA Research note that home price gains were so swift in 2020-21 that consumers probably "did not fully adjust their spending patterns to incorporate their newfound wealth."
Buyers are getting more from sellers. Last month 51.5% of all sales in Sacramento County had some form of a concession. Sellers are tending to give things like credits for closing costs, credits for repairs, rate buydowns, etc... Not a shocker to see this rising since May. pic.twitter.com/cfPPli7xx5
Even though the US homeownership rate has been rising since 2016, the mortgage debt service ratio of Americans remains near record lows. Homeowners as a cohort have likely never been less burdened by their monthly payments. pic.twitter.com/YO4PGJTWKT
The past two months represented one of the best environments for the service to get new users. Data shows few joined (relatively speaking) and a large portion of those who did join are now losing interest. pic.twitter.com/CT037MK4Fb
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A Wealth of Common Sense is a blog that focuses on wealth management, investments, financial markets and investor psychology. I manage portfolios for institutions and individuals at Ritholtz Wealth Management LLC. More about me here. For disclosure information please see here.
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