WM 24 May 2021
Quotes Portfolio management tips Sharpe ratio penalises all type of volatile portfolio. Sortino better in that regards as focus on downside risk On leverage Bearish gap below mav Markets & Macro news Global debt reached USD 277tn in 2020 The Fed does not print money, but lends money and buys assets That money has gone into financial assets, but not in the real economy as seen by the falling velocity of money. One dollar of debt = 35c of GDP So 10% nominal growth in GDP is due this year Hail Milton Friedman US dollar debt is financed by Fed as foreigners are now net sellers of US dollar Inflation and yield SPX and rising yields European indices could turn too, but... China to outperform the S&P500 from now on? Bitcoin crashes Gold recovering its relative lustre EM currencies Growth < Value Co2 fight starts by educating people. Meanwhile IEA publishes seminal report on net zero plan Housing boom correcting Overstock and cryptos decoupling? Themes, Sectors & Cor...