Retail investors appear to be rotating out of gold and Bitcoin into semiconductor stocks:

Since April, US gold and Bitcoin ETFs have posted -$12 billion in cumulative outflows.

Over the same period, US semiconductor ETFs have attracted +$20 billion in cumulative inflows.

This trend accelerated in mid-May, with outflows from gold and Bitcoin funds more than tripling.

At the same time, inflows into semiconductor ETFs have doubled.

Meanwhile, the largest US gold-backed ETF, $GLD, is down -13% since the start of April, while the largest Bitcoin ETF, $IBIT, is down -12%.

Over the same period, the semiconductor ETFs, $SOXX and $SMH, are up +81% and +60%, respectively.

Retail is driving markets like never before.

🄳🄾🄾🄼🄿🤖🅂🅃🄸🄽🄶

“You’re not engaging in good faith!”

Their good faith:

🄳🄾🄾🄼🄿🤖🅂🅃🄸🄽🄶

Never give up. Never stop reaching. Everything you want is within your grasp—if only you have the strength to believe

🄳🄾🄾🄼🄿🤖🅂🅃🄸🄽🄶

This is how you get a commercial driver's licence in California, by the way

🄳🄾🄾🄼🄿🤖🅂🅃🄸🄽🄶

Earthquakes strike Venezuela, Japan, Afghanistan, Philippines and California in deadly week

🄳🄾🄾🄼🄿🤖🅂🅃🄸🄽🄶

US tech fund flows are seeing extreme volatility:

US technology sector funds posted -$15 billion in outflows this week, the largest weekly withdrawal in at least 2.5 years.

This exceeds the previous largest weekly outflow over this period by +100%.

This also comes after +$19 billion in inflows the prior week, also the largest weekly inflow in at least 2.5 years.

Furthermore, US equity funds saw an -$8.5 billion outflow this week, the largest weekly withdrawal in 3 months, following a record +$119 billion inflow.

Year-to-date, US equity funds have attracted +$332 billion in inflows, accounting for half of the +$661 billion total across all developed markets.

Investors are cashing out massive profits.

🄳🄾🄾🄼🄿🤖🅂🅃🄸🄽🄶

Most Filipinas now prefer Japanese and Korean men over white men.

Being white doesn’t give you the same status as it used to anymore.

Keep in mind when she says she likes Filipino men the most, she means Filipino Changs.

🄳🄾🄾🄼🄿🤖🅂🅃🄸🄽🄶

Happy 55th to ElonMusk

The man who decided that rockets were reusable, that electric cars were the coolest sht ever, that brain chips were the reasonable next step, and that owning the internet's town square was not only a good idea but will save the world's freedom of speech

All before most people finished their morning coffee.

The sheer volume of industries he's disrupted in a single lifetime is genuinely impressive

Here's to whatever he breaks next!

🄳🄾🄾🄼🄿🤖🅂🅃🄸🄽🄶

Geert Wilders’ enemies want him dead.

The Dutch politician has had countless death threats made against him, Pakistani imams have issued fatwas against him, and Jordan, Iran and Saudi Arabia have taken him to court.

🄳🄾🄾🄼🄿🤖🅂🅃🄸🄽🄶

British people will smear yogurt on their windows and tell you they don't need an air conditioner

🄳🄾🄾🄼🄿🤖🅂🅃🄸🄽🄶

The UK notoriously does not have widespread HVAC adoption and the air conditioning debate has been had a thousand times.

But DID YOU KNOW that if you sit in an air conditioned car while it's idle the UK will fine you? WTF is wrong with that country?!

🄳🄾🄾🄼🄿🤖🅂🅃🄸🄽🄶

No sector in history has ever been this large:

The Information Technology sector now accounts for a record 39% of the S&P 500's total market cap.

This percentage has more than doubled since the 2020 pandemic.

This figure is also now above the 2000 Dot-Com Bubble peak of ~33% and the ~31% peak reached by the Energy sector in the 1980s.

Including internet retailers and digital media platforms such as Amazon, $AMZN, and Netflix, $NFLX, tech now accounts for a record 50% of the S&P 500's market value.

By comparison, this same group accounted for just 29% of the index at the Dot-Com Bubble peak.

Tech is all that matters.

🄳🄾🄾🄼🄿🤖🅂🅃🄸🄽🄶

When we win our grandkids will tell legends of us

🄳🄾🄾🄼🄿🤖🅂🅃🄸🄽🄶

US deal value over the last 4 quarters: $1.89 trillion, the highest level on record.

The last 2 major spikes: September 2021 and March 2000. Both occurred near market peaks.

Reminder: dealmaking tends to surge when confidence/optimism is high and discipline starts to fade.

🄳🄾🄾🄼🄿🤖🅂🅃🄸🄽🄶