Offshore
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The Kobeissi Letter
This is interesting:
The bull-bear spread in the AAII survey has dropped to -34 points, near the lowest since the 2022 bear market low.
This marks a 50+ point decline over the last few weeks.
In the recent survey, 55.6% of respondents were bearish over the next 6 months, with just 21.9% expressing bullish sentiment.
However, their asset allocation to stocks has fallen just 3 percentage points, to 67%, which is a historically elevated reading.
To put this into perspective, during the 2020 pandemic, stock allocation fell to ~55%.
In other words, individual investors have barely sold any stock despite being extremely bearish.
Retail investors are still heavily invested.
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This is interesting:
The bull-bear spread in the AAII survey has dropped to -34 points, near the lowest since the 2022 bear market low.
This marks a 50+ point decline over the last few weeks.
In the recent survey, 55.6% of respondents were bearish over the next 6 months, with just 21.9% expressing bullish sentiment.
However, their asset allocation to stocks has fallen just 3 percentage points, to 67%, which is a historically elevated reading.
To put this into perspective, during the 2020 pandemic, stock allocation fell to ~55%.
In other words, individual investors have barely sold any stock despite being extremely bearish.
Retail investors are still heavily invested.
tweet
Offshore
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Dimitry Nakhla | Babylon Capital®
RT @DimitryNakhla: MSCI Inc $MSCI Q1 Earnings Report🎯
Rev: $745M vs $744M est✅ | +10% YoY
EPS: $4.00 vs $3.91 est ✅ | +14% YoY
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One of the stickiest businesses in the 🌎 https://t.co/zxT9ihHP2h
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RT @DimitryNakhla: MSCI Inc $MSCI Q1 Earnings Report🎯
Rev: $745M vs $744M est✅ | +10% YoY
EPS: $4.00 vs $3.91 est ✅ | +14% YoY
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One of the stickiest businesses in the 🌎 https://t.co/zxT9ihHP2h
Take a look at $MSCI quarterly revenue over the past 10 years (40 quarters) 🤯
1. Revenue declined in just 3/40 quarters
2. Revenue increased in 37/40 quarters
It doesn’t get more predictable than that
Keep in mind, this is Q/Q not Y/Y, which makes it even more impressive 🌐 https://t.co/i0IpRNsBA8 tweet
Offshore
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The Kobeissi Letter
BREAKING: Stock market futures move lower as uncertainty rises with the 90-day tariff pause now 20% complete. https://t.co/XpniCuot95
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BREAKING: Stock market futures move lower as uncertainty rises with the 90-day tariff pause now 20% complete. https://t.co/XpniCuot95
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