MM 26 November 2020

Quotes

This is why Newton said this

Indeed

What makes a genius?

On 25 November 1915, the General Theory was presented by another genius to the Prussian Academy of Science

Talking about geniuses, another one just passed away

And since we are on the topic, this young one explains that it’s only after he became absolutely confident and optimistic that he started to realise his potential. His explanation is simple yet brilliant. "By being confident and optimistic always, I am more creative and can better seize the opportunities when they present themselves. This is a huge edge compared to most risk averse “pessimistic” players."

Markets & Macro news

Nothing exceeds like excesses

So much in fact, that 91% of stocks are above their 70 RSI (the RSI is a technical oscillator that calculate relative strength of a price move, a momentum indicators often used to determine whether a price is "overbought" or "oversold").

This buying frenzy coincided with a blanket dump of gold ever (Bitcoin to follow suit?)

Bringing the yellow metal back to an interesting technical support level

Even of copper and energy stocks are saying recovery is around the corner

Stocks may be overextended relative to consumer confidence indicators

This may Trump's mistake. The stock market is not the economy. The lowest paying jobs fared far worst than the highest earners, for a simple reason.

The law of gravity suggests that either the economy is about to boom like never before or stock prices will fall, eventually.

China is showing the way, but predictions suggest that the market is ahead of events. Mind the gap

The put/call ratio is very low and so is VIX: volatility should be back soon

The dominant force driving it all is liquidity, in the absence of any economic recovery

And it ‘s only the beginning according to Morgan Stanley

Bitcoin will correct eventually, but for the long term bulls, this chart says bubble has not even started

The fact that Covid takes place at this generational juncture (decline of Baby Boomers, rise of Milennials) is no coincidence says Mike Green. “Do you think people would have noticed Covid if there were not as many 85 years old around? ”

Themes, Sectors & Corporate news

Salesforce.com buying Slack for USD 17bn.

Rabobank believes soft commodity price spikes may be short-lived