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On today’s show, we discuss:
- American stocks are at their most expensive in decades
- Traders are not pricing in a policy of benign neglect on US inflation
- Credit card markets head back to normal after pandemic pause
- US housing market recovers the nearly $3T it lost, hitting record $47T in total value
- Home stretch: How untapped equity could sustain the consumer
- Unluckiest generation falters in boomer-dominated market for homes
- The next massive consumer tailwind
- Amazons leader on Alexa, Echo, and other devices plans to leave
- What will it take for ESPN to break into sports betting?
- Here’s what a $5M retirement looks like in America
- The happiness lottery
- How to use your dishwasher better
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With “risk free” rates above 5%, the typically low-growth, high-dividend payers in the S&P are massively underperforming in 2023. The 101 non-dividend payers are up 20.4% YTD, while the 100 highest yielders in the index are down an average of 3.5% on a total return basis. pic.twitter.com/4JSV5YDZAy
— Bespoke (@bespokeinvest) August 12, 2023
Here ya go. Here's the chart that'll be in every chart curators' chart roundups tonight / this week.
From Goldman Sachs via the chart curators @TKerLLC https://t.co/GBbHG6P2oK pic.twitter.com/urHclv7Bmr
— Sam Ro 📈 (@SamRo) August 11, 2023
"We have seen very strong momentum in buyback announcements so far this year…[but] buybacks as a share of profits are still low."
– JPMorgan pic.twitter.com/CgjdqWmjtc
— Daily Chartbook (@dailychartbook) August 12, 2023
"According to FINRA margin data, this is the largest 6-month increase in leverage on record…[and] leverage increased by ~$300B in the last 12 months."
– Goldman Sachs pic.twitter.com/HP4WYAznri
— Daily Chartbook (@dailychartbook) August 2, 2023
With “risk free” rates above 5%, the typically low-growth, high-dividend payers in the S&P are massively underperforming in 2023. The 101 non-dividend payers are up 20.4% YTD, while the 100 highest yielders in the index are down an average of 3.5% on a total return basis. pic.twitter.com/4JSV5YDZAy
— Bespoke (@bespokeinvest) August 12, 2023
Look.
Consumer spending is ~70% of GDP.
It's hard to have a recession when spending is increasing at this pace and unemployment is still low. pic.twitter.com/OY07EZruPq
— Callie Cox (@callieabost) August 15, 2023
You: OMG credit card debt just hit a record $1 tril…
Me: stop right there. credit card debt is just 6% of $$$ people have in the bank, around the lowest %age in 20 years pic.twitter.com/Vb2Gk6lAK3
— Callie Cox (@callieabost) August 8, 2023
"…our deposit data continues to show signs that unemployment is picking up from these very low levels at a faster pace for higher-income earners." – BofA https://t.co/C8P20fSNxI pic.twitter.com/G1q64GG3zI
— Sam Ro 📈 (@SamRo) August 13, 2023
Investors accounted for ~24% of all US home purchase activity in Q2-2023. As is always the case, small investors were the overwhelming majority of those purchases (see red box).
These 'mom-and-pop' investors bought ~64 times the number of homes that institutions did in Q2-2023. pic.twitter.com/m9cbTJFhrd
— Rick Palacios Jr. (@RickPalaciosJr) August 9, 2023
Q2 Streaming Subscription Changes:
Netflix: 5.9M
Peacock: 2M
Paramount+: 1M
Hulu: 100,000
Max: -1.8M
Disney+: -11.7M— Brandon Katz (@Great_Katzby) August 14, 2023
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