Offshore
Photo
The Kobeissi Letter
Capital is rushing to the sidelines:
In March, hedge funds conducted their most aggressive selling of world stocks since 2013, according to Goldman Sachs data.
Not even the 2020 pandemic saw such a sharp exposure reduction in global equities.
This was particularly driven by hedge funds dumping US technology stocks.
This also contributed to the largest S&P 500 underperformance versus global stocks in 16 years during Q1 2025.
The rush to the sidelines is real.
tweet
Capital is rushing to the sidelines:
In March, hedge funds conducted their most aggressive selling of world stocks since 2013, according to Goldman Sachs data.
Not even the 2020 pandemic saw such a sharp exposure reduction in global equities.
This was particularly driven by hedge funds dumping US technology stocks.
This also contributed to the largest S&P 500 underperformance versus global stocks in 16 years during Q1 2025.
The rush to the sidelines is real.
tweet
Offshore
Photo
The Kobeissi Letter
BREAKING: The median asking home price in the US jumped 6.3% year-over-year last week, to a record $424,985.
Since the beginning of the year, the median asking home price has risen by ~$50,000.
Moreover, the median sale price rose by 3.0% year-over-year, to $383,750, the highest since November 2024.
Meanwhile, the average weekly mortgage rate hit 6.67%, more than double the pandemic lows.
As a result, the typical homebuyer’s monthly mortgage payment surged 5.3% year-over-year, to a record $2,807.
Housing affordability is still getting worse.
tweet
BREAKING: The median asking home price in the US jumped 6.3% year-over-year last week, to a record $424,985.
Since the beginning of the year, the median asking home price has risen by ~$50,000.
Moreover, the median sale price rose by 3.0% year-over-year, to $383,750, the highest since November 2024.
Meanwhile, the average weekly mortgage rate hit 6.67%, more than double the pandemic lows.
As a result, the typical homebuyer’s monthly mortgage payment surged 5.3% year-over-year, to a record $2,807.
Housing affordability is still getting worse.
tweet
Offshore
Photo
The All-In Podcast
RT @ALLIN_meetups: Meet local besties & celebrate Episode 225 happening April 26 around the world
Join or host 👉 https://t.co/SwGpZAvZof
@Jason @friedberg @chamath @DavidSacks @theallinpod @all_in_tok @BrandonLucasOFC https://t.co/ysC5jozN9T
tweet
RT @ALLIN_meetups: Meet local besties & celebrate Episode 225 happening April 26 around the world
Join or host 👉 https://t.co/SwGpZAvZof
@Jason @friedberg @chamath @DavidSacks @theallinpod @all_in_tok @BrandonLucasOFC https://t.co/ysC5jozN9T
tweet
Offshore
Photo
Investing visuals
$TSM reports earnings on Thursday:
🔹Est. Revenue: $25.69 Bln (+40.5%)
🔹Est. Earnings per share: $0.42 (+55.6%) https://t.co/NdWa92FfNi
tweet
$TSM reports earnings on Thursday:
🔹Est. Revenue: $25.69 Bln (+40.5%)
🔹Est. Earnings per share: $0.42 (+55.6%) https://t.co/NdWa92FfNi
tweet
Offshore
Photo
Finding Compounders
Li Lu recounts how Charlie Munger read Barron’s for over 40 years and only got one investment idea from it
Investing is about extreme patience combined with extreme decisiveness https://t.co/ielXieYGtl
tweet
Li Lu recounts how Charlie Munger read Barron’s for over 40 years and only got one investment idea from it
Investing is about extreme patience combined with extreme decisiveness https://t.co/ielXieYGtl
tweet
Offshore
Photo
The Kobeissi Letter
BREAKING: President Trump says, "all necessary permits will be expedited to Nvidia" after the company committed to build $500 billion in the USA. https://t.co/C2GEDLHpG1
tweet
BREAKING: President Trump says, "all necessary permits will be expedited to Nvidia" after the company committed to build $500 billion in the USA. https://t.co/C2GEDLHpG1
tweet