The day

Bear baiting

The latest Bear Cave letter is out. https://thebearcave.substack.com/p/the-bear-cave-62

I strongly suggest you sign up.

I’ve extracted some of the tips.

NYSE:QS

Fantasy battery technology. Another Theranos, this time for batteries.

NASDAQ:NTGR

Netgear, home hi-fi hardware, eroding sales, tired …

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The day (Bicycle day) in review mirror

Markets update

The reflation trade made a showing today:

• bonds a tiny bit lower (US TY 10Y yield up a few bp),
• most commodities up (except gold),
• bitcoin (‘digital gold’) down 7% to $56K, but Dogecoin (designed to be worthless) hits new ATHs …

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Weekend wrap

Kuppy’s KEDM has been released.

• Spinoffs: EVR in London is spinning off its coal assets, TPK (private equity) is spinning off Wickes (the top for DIY suppliers?),
• Loeb has started to buy into $INTC. Intel used to be the IBM of semiconductors. Can it do a $MSFT …

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Crumbs

Quantumscape: escape now, while you can!

Read more on Reddit

From The Market Ear:

This latest melt up in SPX has created several “extreme” readings worth considering;

1, SPX is now some 15% above the 200 day moving average

2, RSI is printing +72 as of writing

3, The …

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Journal

Chamath would have made Bernie proud

I read today that Bernie Madoff, the operator of what was supposedly the biggest Ponzi scheme in history, has died in prison. I think the papers should have qualified that by recognizing that the they were restricting the comparison to those schemes that …

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Spring day

• On this day in 1968 students were rioting in Berlin
• Margin debt is exploding.
• Everyone wants a more activist state, but nobody wants public spending to spiral out of control. In other words, ‘people’ want incompatible things. Not a person, but society, made up of individuals with different …

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13th April: not a Friday

Corporatism

A few commentators have been pointing out the collapse of capitalism into corporatism for years. Zingales and Raghuram did an excellent job. Tepper and Hearn did a slightly less good job, but more readably. Matt Stoller is doing a fabulous job, but against the …

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Today’s Thoughts

Krugman on corporation tax

Krugman writes an explanation of why the Trump corporation tax cuts failed so badly. I hope this is not paywalled. DM me @francismansell to complain. Krugman explains that most US corporate profits are really monopoly profits, so changing marginal tax rates doesn’t …

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Crumbs

AAII is the American Association of Individual Investors. I originally assumed that this was AALL (but the ‘L’s in lower case, for some camel-case reason): no wonder Google had no idea what this was.

This might have something to do with it

“Sustainability Inc”

I’ve been sceptical …

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Crumbs

Kuppy dumps BTC

Kuppy is no Jamie Dimon. You don’t think “Jamie is telling me that the stockmarket is going up for the foreseeable future, I’d better liquidate my holdings ASAP.” OK, Kuppy is not as wealthy as Jamie either, but the main thing is that you …

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