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Is The Rotation From Growth to Value or Offense to Defense?, Monday’s Bizarre Internals and What They Might Mean
Most analysts have been characterizing the current rotation in markets as from Growth to Value. However, while on Monday the S&P 500 Value ETF (IVE, -0.02%) outperformed the S&P 500 Growth ETF (IVW, -1.95%), on Tuesday growth (-0.43%) outperformed value (-1.35%). This calls into question the Growth to Value narrative.
Markets Recalibrate Fed Rate Cut Expectations, DFS: Haves and Have Nots
Contemporary financial markets are more about forecasting monetary policy than analyzing company fundamentals. And what we’ve seen in the first two and a half weeks of 2024 is a recalibration of expectations about how quickly and how much the Fed…
Digging Into The Under-Depreciation Debate
Michael Burry’s bear case is based on the premise that the AI hyperscalers are under-depreciating their capital spending in order to keep reported GAAP profits artificially high. There is also the suggestion that much of this CapEx will be malinvestment…
