Crazy Cathy’s Ark may have sprung a leak

There is a lot of muttering about how once ARK Innovation’s ETF starts getting redemptions, the illiquid holdings will implode. In some cases, ARK Innovation holds a very high part of the free float. This will test Prof Plum’s …

There are comments.

Crumbs

Mark E. Jeftovic has written a piece called Deconstructing “Wokethink” in which he tries to persuade us to guard against ten cognitive biases that lead us astray. He’s jotted them down on a handy card, but really you should read the whole article. He has targetted “wokethink,” but …

There are comments.

Crumbs

Cassandra speaks, but nobody listens

Michael Burry is expecting hyperinflation, and therefore likes commodities, and uranium especially.

People say I didn't warn last time. I did, but no one listened. So I warn this time. And still, no one listens. But I will have proof I warned.

— Cassandra …

There are comments.

Crumbs

REITs

We all need somewhere to live. Homes are both a necessity, and a luxury good. A house is like a loaf of bread, we must have somewhere to rest our weary head, even if it’s a tent under a flyover. Like art or opera tickets, a house …

There are comments.

Crumbs

• Steve Mnuchin is looking for live gigs. And Zoom ones. He’s a bargain compared to Janet Yellen. But, maybe he can afford to be generous with his time.
• 
• SPAC mania continues.

News

Kim Kardardashian has filed for divorce. I’m not sure who she is, but Twitter seems …

There are comments.

Crumbs

• A good way to play energy is options on SXEP, according to JPM’s Kolanovic (h/t The Market Ear). There is a lot of talk about oil/commodities supercycles. Certainly, commodities have been fairly strong recently, and it’s not difficult to explain: a long period of under-performance …

There are comments.

Crumbs

The new Bear Cave newsletter (#53) is out. It has picked up that the ARK ETF(s) may implode.

Other bearish tickers:

1/ Why are there so many SPACs?

Answer 1: Great economics for sponsor (average of 20% of money raised upon deSPAC / merging with a target, Eg $400M …

There are comments.

Crumbs

It looks to me as though oil is going to strengthen in the near future. An alternative to actually buying the commodity or the upstream oil companies I may be wrong, of course!

Inflation

The world has experienced low or negative inflation. This is a great worry to central …

There are comments.

Crumbs

Today was President’s Day: a holiday for many US Americans.

Shipping, both container and bulk, is a very unloved sector. There cycle is long, and it takes a long time to build a ship. I think we’re going through a cyclical up phase, as commodities (oil, LNG …

There are comments.

Crumbs

The market expects real yields to be negative as far as the eye can see, which doesn’t mean that nobody will make money investing in long-dated Treasuries, but does mean that the US Social System has a problem.

• $HJLI is very interesting, according to tailwinds. It produces some …

There are comments.