Tasso Chrisostomidis

Analyst - Trader

[Tasso Chrisostomidis @tchrisostomidis]

@elonmusk Depends on the definition...

[Tasso Chrisostomidis @tchrisostomidis]

@KobeissiLetter So how do they know they are from Columbia if they are undocumented?

[Robby Starbuck @robbystarbuck]

The American College of Pediatricians just put out a 🔥🔥🔥 statement calling out all the major medical associations by name for pushing the gender transition craze on kids.

They ask for these groups to "IMMEDIATELY stop the promotion of social affirmation, puberty blockers, cross-sex hormones and surgeries for children and adolescents who experience distress over their biological sex."

The full @ACPeds statement ⬇️

"Therefore, given the recent research and the revelations of the harmful approach advocated by WPATH and its followers in the United States, we, the undersigned, call upon the medical professional organizations of the United States, including the American Academy of Pediatrics, the  Endocrine Society, the Pediatric Endocrine Society, American Medical Association, the American Psychological Association, and the American Academy of Child and Adolescent Psychiatry to follow the science and their European professional colleagues and immediately stop the promotion of social affirmation, puberty blockers, cross-sex hormones and surgeries for children and adolescents who experience distress over their biological sex.  Instead, these organizations should recommend comprehensive evaluations and therapies aimed at identifying and addressing underlying psychological co-morbidities and neurodiversity that often predispose to and accompany gender dysphoria. We also encourage the physicians who are members of these professional organizations to contact their leadership and urge them to adhere to the evidence-based research now available.”

They link to MANY studies on their site: https://t.co/Rjw4geZVvI

[The Kobeissi Letter @KobeissiLetter]

BREAKING: Gold's share of global international reserves jumps to 17.6% in 2023, the most in 27 years.

This share has almost doubled since 2016 as central banks have ramped up purchases.

Gold is also now the 2nd largest asset held in global central banks’ reserves, exceeding the Euro for the 1st time ever.

The number one is still the US dollar, but its 48% world share is down from ~60% in 2017.

Meanwhile, central banks' net gold purchases saw a new record in Q1 2024 of 290 tonnes.

World central banks are piling into gold.

[Roberto Rios @peruvian_bull]

FINANCIAL GRAVITY:

If we divide the performance of the S&P 500 by the Fed’s Balance Sheet since the GFC, the LINE IS FLAT.

This means that there has been basically NO REAL growth in stock prices since 2008- with the only rise in prices due to money printing.

The correlation coefficient between central bank quantitative easing and the price of stock indexes is nearly 1.

The money printed by the Fed, because of the structure of the Open Market Operations, is plugged directly into the Treasury markets, and from there, flows into equities and derivatives.

This has served to primarily enrich the asset owners, financial institutions, and wealthy elites who own the majority of the stock market anyways.

The entire rally has been an illusion, financed by the Fed and maintained through QE.

In the black expanse of space, many things are not what they seem.

[Tasso Chrisostomidis @tchrisostomidis]

https://t.co/dZdTl0fDTc

[The Kobeissi Letter @KobeissiLetter]

Apollo just doubled down on their view that we are in a bigger bubble than the 2000 Dot-com bubble.

3 weeks ago, they said the current bubble is "bigger than the 1990s tech bubble."

They note that the Forward P/E ratio for the top 10 tech stocks right now is ~40x.

Compared to 2000, at the peak of the Dot-com bubble, the Forward P/E on the top 10 tech stocks was ~26x.

Now, Apollo says that ~30% of stocks have a P/E ratio of 30x or more.

Overall, Apollo says that P/E ratios now are much higher than they were in 2000.

What's next for AI hype?

[The Rabbit Hole @TheRabbitHole]

@elonmusk Only a specific demographic still trusts legacy media. At this point these outlets are preaching to the choir and convincing few.

[The Spectator Index @spectatorindex]

Bloomberg reports that around 14% of all commercial real estate loans in the United States and 44% of loans on office buildings now appear to be in 'negative equity', where the debt is now greater in value than the property itself.

[Historic Vids @historyinmemes]

"Anger Transference" by Richard Sargent. 1954

[Tasso Chrisostomidis @tchrisostomidis]

@KobeissiLetter It seems to me like markets (and the US government) believe that the AI race is the final stage of a winner-takes-it-all game. So, I guess, the plan is fake it till you make it.

[The Kobeissi Letter @KobeissiLetter]

Office building prices in the US are down ~40% from their peak just over 2 years ago.

Over the last year, office building prices are down a massive ~30%.

Currently, 1 in 5 office buildings in the US are vacant.

The worst part?

Most of these office buildings hold large debt balances.

With high interest rates and falling cashflows, delinquency rates are rising.

Commercial real estate bankruptcies are coming.

[The Kobeissi Letter @KobeissiLetter]

Unrealized losses now account for ~33% of all bank equity capital in the US.

Currently, banks are sitting on nearly $700 billion of unrealized losses.

To put this in perspective, even at the worst point in 2008, unrealized losses only accounted for ~5% of equity capital.

Prior to the regional bank crisis, this percentage was improving, at ~22%.

However, since the crisis we have seen rapidly rising unrealized losses.

A trend worth watching.

[GURGAVIN @gurgavin]

HERE IS A SUMMARY OF WHAT EVERY SINGLE BANK EXPECTS FROM THE STOCK MARKET IN 2024

🧵

[The Kobeissi Letter @KobeissiLetter]

Chapter 11 bankruptcy filings in the US have skyrocketed since the Fed started raising rates.

In November, we saw over 700 Chapter 11 commercial bankruptcy filings, the most since 2018.

In recent months, the rate of new bankruptcies has started to accelerate.

As we head into 2024, further pressure from high interest rates will spark more bankruptcies.

All as consumers continue to take on more debt to "fight" inflation.

Is a soft landing really attainable?

[Holger Zschaepitz @Schuldensuehner]

Is this the reason why Fed chair Jerome Powell has suddenly communicated a pivot and announced interest rate cuts? It is striking that the banks are continuing to obtain liquidity via the BTFP, even though long-term yields have fallen sharply.

[John Kemp @JKempEnergy]

NORTHERN HEMISPHERE temperatures shattered the previous seasonal record in November with exceptional warmth across all landmasses. Land temperatures were +3.04°C higher than the long-term seasonal average for 1901-2000, smashing the previous record of +2.48°C set in November 2020

[Chuck Callesto @ChuckCallesto]

JUST IN: China initiates MASSIVE CYBER ATTACK on United States infrastructure..

DEVELOPING..

[SaltyGoat @SaltyGoat17]

Remake of "When a man loves a woman.."

I'M DYING!!🤣🤣🤣

How THE HELL did this dude keep a straight face?!?😂👇🏼