Offshore
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The Kobeissi Letter
This is interesting:
~90% of foreign stock indices have outperformed the US over the last 21 days, the highest percentage since the 2022 bear market.
The share has doubled over the last three weeks as the S&P 500 has pulled back -6.5%.
Over the same time period, the German Dax has risen +2.1% while the Japanese Nikkei 225 has declined -1.4%.
Canada's stock market, the TSX Composite has fallen -0.7% during the same period.
Meanwhile, the UK’s FTSE 100 index has been roughly unchanged.
Will US stocks outperform over the next few weeks?
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This is interesting:
~90% of foreign stock indices have outperformed the US over the last 21 days, the highest percentage since the 2022 bear market.
The share has doubled over the last three weeks as the S&P 500 has pulled back -6.5%.
Over the same time period, the German Dax has risen +2.1% while the Japanese Nikkei 225 has declined -1.4%.
Canada's stock market, the TSX Composite has fallen -0.7% during the same period.
Meanwhile, the UK’s FTSE 100 index has been roughly unchanged.
Will US stocks outperform over the next few weeks?
tweet
Offshore
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Quiver Quantitative
This is pretty wild.
An editor from The Atlantic was accidentally added to a group chat planning the Houthi military strikes.
He allegedly received top secret information on the strike hours before it happened. https://t.co/imeNpNOgyK
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This is pretty wild.
An editor from The Atlantic was accidentally added to a group chat planning the Houthi military strikes.
He allegedly received top secret information on the strike hours before it happened. https://t.co/imeNpNOgyK
tweet
Offshore
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The Kobeissi Letter
Are hedge funds fading this rally?
Hedge fund exposure to Magnificent 7 stocks is down 8 percentage points, a LARGER drop than the 2022 bear market.
As a result, the Magnificent 7 has erased -$3 TRILLION in market cap.
What is institutional capital telling us?
(a thread) https://t.co/bFTVHyPgTV
tweet
Are hedge funds fading this rally?
Hedge fund exposure to Magnificent 7 stocks is down 8 percentage points, a LARGER drop than the 2022 bear market.
As a result, the Magnificent 7 has erased -$3 TRILLION in market cap.
What is institutional capital telling us?
(a thread) https://t.co/bFTVHyPgTV
tweet
Offshore
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Finding Compounders
Warren Buffett explains why Berkshire doesn’t split its stock, in his 1983 letter.
He highlights the importance of attracting high quality shareholders. https://t.co/iUhNHT9bDq
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Warren Buffett explains why Berkshire doesn’t split its stock, in his 1983 letter.
He highlights the importance of attracting high quality shareholders. https://t.co/iUhNHT9bDq
tweet
Offshore
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The Kobeissi Letter
Foreign investors are selling US stocks:
Foreign investors withdrew ~$6 BILLION from US equities funds last week, the 3rd largest amount on record.
Only March 2020 and the March 2023 Banking Crisis saw bigger weekly outflows.
This coincides with ~$4 billion of inflows into European stocks over the last 4 weeks, the most in 10 years.
However, foreigners still own ~$16 TRILLION of US equities, near an all-time high.
This reflects ~23% of the total US stock market's value.
Sentiment continues to see rapid swings.
tweet
Foreign investors are selling US stocks:
Foreign investors withdrew ~$6 BILLION from US equities funds last week, the 3rd largest amount on record.
Only March 2020 and the March 2023 Banking Crisis saw bigger weekly outflows.
This coincides with ~$4 billion of inflows into European stocks over the last 4 weeks, the most in 10 years.
However, foreigners still own ~$16 TRILLION of US equities, near an all-time high.
This reflects ~23% of the total US stock market's value.
Sentiment continues to see rapid swings.
Are hedge funds fading this rally?
Hedge fund exposure to Magnificent 7 stocks is down 8 percentage points, a LARGER drop than the 2022 bear market.
As a result, the Magnificent 7 has erased -$3 TRILLION in market cap.
What is institutional capital telling us?
(a thread) https://t.co/bFTVHyPgTV tweet
Offshore
Photo
The Kobeissi Letter
BREAKING: The FBI has launched a Tesla, $TSLA, threats task force to “investigate activity and crack down on violent Tesla attacks.” https://t.co/OrBrTuWhFp
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BREAKING: The FBI has launched a Tesla, $TSLA, threats task force to “investigate activity and crack down on violent Tesla attacks.” https://t.co/OrBrTuWhFp
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Offshore
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The Kobeissi Letter
BREAKING: The S&P 500 closes +95 points higher and has now added +$1.5 trillion of market cap since its low on Friday. https://t.co/B3PiSUshUm
tweet
BREAKING: The S&P 500 closes +95 points higher and has now added +$1.5 trillion of market cap since its low on Friday. https://t.co/B3PiSUshUm
Are hedge funds fading this rally?
Hedge fund exposure to Magnificent 7 stocks is down 8 percentage points, a LARGER drop than the 2022 bear market.
As a result, the Magnificent 7 has erased -$3 TRILLION in market cap.
What is institutional capital telling us?
(a thread) https://t.co/bFTVHyPgTV tweet