Global Macro Monitor

Hat Tip: @WallStJesus

A couple of very interesting and informative charts on U.S. consumption patterns during COVID from Patrick Zweifel at Pictet Asset Management.

Definitely confirms our priors. Can’t find a fairly priced bike anywhere.

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Does it get any louder than this or is this time different?

The greatest and wealthiest investor in history has no clue, has lost his touch, and is one of those Idjit “permabears,” right?

We concede that TSLA should have some option value for its battery tech moonshot but a 1,160 PE ratio? Come on, man!

Toyota (TOY) currently trades at 8x earnings.

Tesla makes an incredible product, in our opinion, the best automobile in the world and no other comes close. Classic case of great company, bad stock with a junk credit rating to boot.

Best to trade this one like pork bellies or be Howard Marks (see Tweet below).

There is no free lunch and somebody or many somebodies are about to get seriously fucked, just as the TSLA shorts have been skewered over the past year.

Stock Splits – The New Free Money

Seriously, though, stock splits are the new, new free money. TSLA is up almost 75 percent since it announced its 5:1 split just a few weeks ago, which is tantamount to walking into a bar and asking to change a $50 bill for five $10 bills and having the bartender hand you back eight $10 bills.

But, hey, maybe there’s some scarcity value premium to $50 bills,

Next to the United States two-dollar bill the fifty-dollar bill has the lowest circulation of any denomination measured by volume. – Wikipedia

Gawd, we love efficient markets.

The rivets are starting to pop, folks. Buy stonks.

Things fall apart; the centre cannot hold;
Mere anarchy is loosed upon the world – W.B. Yeats