Animal Spirits: A Lightning-Fast Correction

Today’s Talk Your Book is presented by Groundfloor:

Download the Stairs app here and check out our discussion with Groundfloor CEO Brian Dally.

We discuss:

• Why this market is like the Go-Go years
• Will there be a recession in the second quarter?
• Warren Buffett is washed up, LOL
• Grantham is bearish. Seriously this time
• Grantham in 2013
• 18 charts that explain the economy
• Bitcoiners are underwater
• Bitcoin is not an inflation hedge…
• …Or is it?
• Great Quartr, guys
• P&G earnings
• United Airlines earnings
• Netflix earnings
• Netflix 2018 versus today
• Peloton hires McKinsey

Listen here:

Transcript here:

• Audiograph

Recommendations

• Ozark
• YellowJackets

Charts:

Tweets:

First time in over 20 years that the Nasdaq was up 1%+ intraday and finished down more than 1% on back to back days.

— Bespoke (@bespokeinvest) January 20, 2022

The SPX Tech sector closed below its 200-day MA today. While not unusual, the pace of the descent is noteworthy.

The sector cycled from > 15% above the avg to below the avg in < 15 days.

That's occurred six other times since 1927, with the last instance triggering in May 2000

— Dean Christians, CMT (@DeanChristians) January 22, 2022

We might be entering a bear market, but it won't be anything like the 2018 crypto winter.

In fact, we've arguably been in a bear market for the last 6 months.

Some thoughts 👇

— Mippo 🟪 (@MikeIppolito_) January 23, 2022

https://twitter.com/NinaStrohminger/status/1483992827482804224