3 Big C's 1 Little C. Never underestimate the power of stupid people in large groups. The Fed can't be reasoned with and it absolutely will not stop until...
*FOR ONLY THE SECOND TIME EVER*
SPX has just
▪ Had a +1% day after a -1% day
▪ Twice-in-a-7-day-stretch
▪ With VIX finishing the period under 20
And what happened after the only other similar event?
LEVERAGED ETFS DRIVE FORCED SELLING WAVE IN US EQUITIES
Leveraged ETFs were forced to sell ~$18 billion of U.S. equities in a single day to rebalance exposures, marking one of the top 10 largest forced-selling events on record.
🚨 Why Michael Burry Just Re-Posted His Old GameStop Letters And Why It Matters RIGHT NOW
People are missing the entire point of Burry resurfacing these screenshots.
So let’s break it down clearly and show how this connects directly to today’s @GameStop.
👇👇👇
Very interesting thought piece from @profplum99. Mike covers the history of the U.S. poverty line metric, arguing it’s fatally flawed today. He then estimates the real poverty line for a family of 4 is $140K pretax (in middle America). As wages climb from $40K to $100K, each dollar “triggers benefit losses that exceed your wage gains”. Mike reinterprets the below Bloomberg chart as showing now what % of the U.S. just manages to get by (i.e., $150K annual HH income). (Mike, can you overlay your calculation of the poverty level by year here?) Net-net, he says this explains the anger of “middle class” workers.
Mike’s article:
https://t.co/HRIizaDNTn
A major hedge fund exec once told me:
“A bull market is when the market moves up on bad news.”
“A bear market is when the market moves down on good news.”
You all laughed at me.
Tried to ridicule me.
EVERY ONE OF YOU.
Even the so called ‘gurus’…
and quote on quote ‘paper billionaires’ laughed
Guess who’s laughing now?
ME 😊
Your all a bunch of fucking CLOWNS!
- Wynn
Understating depreciation by extending useful life of assets artificially boosts earnings -one of the more common frauds of the modern era.
Massively ramping capex through purchase of Nvidia chips/servers on a 2-3 yr product cycle should not result in the extension of useful lives of compute equipment.
Yet this is exactly what all the hyperscalers have done. By my estimates they will understate depreciation by $176 billion 2026-2028.
By 2028, ORCL will overstate earnings 26.9%, META by 20.8%, etc. But it gets worse. More detail coming November 25th. Stay tuned.