Today’s Animal Spirits is brought to you by STF Management:
See here for more information on STF Management’s Tactical Strategy ETFs
On today’s show, we discuss:
- US Stock ownership highest since 2008
- Cathie Wood’s ARKK dumped Nvidia stock before $560B surge
- Wall Street says a recession is coming, consumers say it’s already here
- Why you’re losing more to Casinos on the Las Vegas Strip
- Historic gains: Low-income workers scored in the Covid economy
- ‘Greedflation’ is real – and probably good for the economy
- Housing market update: Mortgage rates surge past 7.1% for the first time since November
- Urban Outfitters earnings
- Taylor Swift’s tour is wreaking havoc on ticket reselling
Austin:
RWM is coming to Austin, TX June 12th-14th‼️
@Downtown with more details⬇️Email us at info@ritholtzwealth.com subject line "Austin" to reserve a meeting slot! pic.twitter.com/9iSdG4HFf3
— Ritholtz Wealth (@RitholtzWealth) May 19, 2023
Tropical Bros Shirts:
Listen Here:
Recommendations:
Charts:
Tweets:
To paraphrase myself from another time:
Investor frustration often stems from not being able to bridge the gap between what they think *should* happen versus what *is* happening.
— Ed Borgato (@EdBorgato) May 26, 2023
“.. Number of $SPX members beating SPX. Worst since 2000.”
(via Mizuho) pic.twitter.com/4sKZNskYxD
— Carl Quintanilla (@carlquintanilla) May 30, 2023
Apple and Microsoft, with market valuations of approximately $2.7T and $2.3T respectively, hold such substantial positions in the S&P 500 that if combined, they would rank as the third-largest sector within the index, surpassing both the energy and financial sectors in size.… pic.twitter.com/q3EfG3eQ78
— Beth Kindig (@Beth_Kindig) May 26, 2023
* U.S. SCREENED NEARLY 9.8 MILLION AIRLINE PASSENGERS OVER FOUR-DAY HOLIDAY WEEKEND, TOPPING PRE-COVID 2019 LEVELS BY 300,000 — @TSA@reuters
— Carl Quintanilla (@carlquintanilla) May 30, 2023
“.. Domestic airfare is getting cheaper, with the average round-trip ticket at $273, per Hopper — down 26% from last year.”@axios #deflation $XAL $JETS https://t.co/dJtI4kSx36
— Carl Quintanilla (@carlquintanilla) May 27, 2023
APOLLO: “Key supply chain indicators are now fully back at 2019 levels .. putting downward pressure on inflation.” [Slok]$DJT pic.twitter.com/QJEGkxCmZI
— Carl Quintanilla (@carlquintanilla) May 27, 2023
🚨 The average 30-year fixed mortgage rate ticks up to 7.01%—that's the highest reading since SVB failed.
Spread: 329 bps 👀 pic.twitter.com/QIUHFN5wF7
— Lance Lambert (@NewsLambert) May 23, 2023
Mortgage rates back to 7%.
Meaning that the cost to buy a house in America is now approaching $2,700/month when including mortgage, tax, insurance, and maintenance.
Meanwhile, cost to rent is $1,850.
Biggest gap we've ever seen. Something has to break. pic.twitter.com/gC1ffJXKmL
— Nick Gerli (@nickgerli1) May 22, 2023
Pandemic home price bubble deflating
U.S. home prices rose 0.7% for the year ending March, the smallest 12-month increase since 2012 https://t.co/S7BhlqAC6R
YoY declines in:
Seattle (-12%)
San Francisco (-11%)
Las Vegas & Portland, Ore. (-5%)
Phoenix & Denver (-4%)
LA (-3%) pic.twitter.com/3l3w5gIKw8— Nick Timiraos (@NickTimiraos) May 30, 2023
#NEW Zillow's forecast model predicts rising home prices between April 2023 and April 2024 in 390 of the nation's 400 largest housing markets https://t.co/asJwOCksQb pic.twitter.com/IBkjwRZ4wj
— Lance Lambert (@NewsLambert) May 23, 2023
$TOL (Toll Brothers) actually raised home prices by an average of $25,000 per home over the past quarter.
They are also raising their guidance for gross margins, new home deliveries & new home prices for the rest of the fiscal year.
Planning for continued community count growth
— Chase Emmerson (@AZLandInvestor) May 24, 2023
$UBS analyst: "Have you seen any impact to demand thus far and if rates sort of stay at 7% would you expect incentive activity and cancellation rates to pick back up again for the industry?"$TOL CEO: "We have not seen any drop in activity over the last few weeks…"
— The Transcript (@TheTranscript_) May 29, 2023
Ouch: 1 in every 5 flipped homes was sold at a loss in 1Q23.
Hard for anyone on the resale side to compete in a market where builders can offer rates under 5.5%. pic.twitter.com/pHO53xwh6B
— Alex Thomas (@housing_alex) May 23, 2023
Should personal finance be taught in HS?📈💰
Thanks to @ramit for joining @awealthofcs and @michaelbatnick on this special episode of TYB! Link down below for the full episode out now on YT⏯️‼️
🎥https://t.co/cSXgxJW1j7 pic.twitter.com/mO82V7uit3
— The Compound (@TheCompoundNews) May 22, 2023
Netflix revealed 5M ad-tier subscribers last week, per @Reuters – at $7/mo, the tier is already at a >$100M quarterly run rate and will monetize at a higher rate than other plans, potentially boosting the bottom line.$NFLX
— Beth Kindig (@Beth_Kindig) May 22, 2023
The slow descent into madness. pic.twitter.com/lSu78ljYoY
— Ben Gilbert (@gilbert) May 23, 2023
Contact us at animalspiritspod@gmail.com with any feedback, recommendations, or questions.
Follow us on Facebook, Instagram, and YouTube.
Check out our t-shirts, coffee mugs, and other swag here.
Subscribe here:
Wealthcast Media, an affiliate of Ritholtz Wealth Management, received compensation from the sponsor of this advertisement. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. Investing in speculative securities involves the risk of loss. Nothing on this website should be construed as, and may not be used in connection with, an offer to sell, or a solicitation of an offer to buy or hold, an interest in any security or investment product.
