MarketWatch columnist. Cabot. Stock letter: https://teapaw.org/t.co/OURT9jAARf. š« consensus. Prior: NYT Business Economist Group MSN Columbia Biz Schl, Hopkins SAIS Italy.
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Insider Analysis retweeted
Fund redemption chatter heavy today, including at least one with significant biotech exposure.
Week 1 of > 10 ppts spread bears to bulls. Historically, this indicator only calls a bottom when spread > 10 ppts for four weeks in a row. We are far from that.
Insider Analysis retweeted
AI doomsaying fears hyperbolically far worse than apparent reality
The governor-elect of Texas, Gina Hinojosa, has explicitly said that all currently permitted datacenters in Texas will be allowed to finish construction. This essentially covers all of the 2027 and likely well into 2028.
She is going to pass laws that ensure that all *newly* permitted datacenters going forward for delivery in 2028/2029 will pay taxes, commit to no increase in power prices for consumers, donāt impact water availability for people, be constructed with union labor and give āTexans a seat at the table.ā
Sounds reasonable. She doesnāt want to lose a lot of good blue collar jobs and property taxes for small towns in rural Texas.
Datacenter commentary starts at 6:30 in this interview.
Also attaching her official campaign position from her website in the next post.
Sidenote: After watching a bunch of her speeches and interviews, I do think she is a political talent and probably has a future in national politics.
youtu.be/D-T6H3b8ZeE?is=mEWuā¦
Insider Analysis retweeted
The governor-elect of Texas, Gina Hinojosa, has explicitly said that all currently permitted datacenters in Texas will be allowed to finish construction. This essentially covers all of the 2027 and likely well into 2028.
She is going to pass laws that ensure that all *newly* permitted datacenters going forward for delivery in 2028/2029 will pay taxes, commit to no increase in power prices for consumers, donāt impact water availability for people, be constructed with union labor and give āTexans a seat at the table.ā
Sounds reasonable. She doesnāt want to lose a lot of good blue collar jobs and property taxes for small towns in rural Texas.
Datacenter commentary starts at 6:30 in this interview.
Also attaching her official campaign position from her website in the next post.
Sidenote: After watching a bunch of her speeches and interviews, I do think she is a political talent and probably has a future in national politics.
youtu.be/D-T6H3b8ZeE?is=mEWuā¦
Insider Analysis retweeted
šØ BIGGEST SINGLE-DAY WIPEOUT IN US STOCK MARKET HISTORY
$2.8 Trillion has been wiped out from the US stock market today so far, the largest one in history.
Previously, the largest single-day wipeout was of $2.69 Trillion during the Covid crash.
Readers added context they thought people might want to know
The US stock market has lost over $2 trillion today. For comparison, roughly $3.5 trillion was erased on March 16, 2020. finance.yahoo.com/markets/live/sā¦ marketwatch.com/livecoverage/sā¦
Insider Analysis retweeted
Comprehensive list of hedge funds blowing up this week, getting large redemptions, or shutting down PMs:
- Axebrook
- Walleye
- Engineers Gate
- Lone Pine
- Millennium internal pods
- Verition pods
- Samlyn
Letter from Walleye closing internal funds below
$RYTM up 1,262% since I suggested it in my letter 7.13.22 at ~ $8. $AZN takeover. Ticker mentioned 70 times since has been a fave. @bradloncar @BiotechCH @adamfeuerstein @Varro_Analytics @BiotechObserver @JohnCendpts @BrianSkorney @MartinShkreli $XBI $IBB
uponstocks.com
Insider Analysis retweeted
GOLDMAN SACHS: DEMOCRATIC WINS COULD THREATEN 45% OF US DATA CENTER EXPANSION
Goldman Sachs warns that Democratic victories at state and local levels could trigger temporary data-center construction moratoria.
šø 45% of planned US data-center capacity could be affected.
šø Texas alone accounts for roughly 25% of planned capacity.
šø Texas, Georgia and Michigan could introduce restrictions on tax breaks, electricity, water and environmental permits.
However, Goldman expects any moratoria to be short-lived, with political pressure easing over time.
Whatever you think of the winners there it is refreshing that not even a half a billion dollars from Elon could swing the elections in his favor in Texas and elsewhere. Voters vs. Big Money.
Dems: "See? The market loves us and our policies!"
The markets: "We're so glad government is divided so none of y'all on either side can get anything done because you politicians on both sides only ever make things worse."
"Excluding the unique U.S. inflationary episode between 1970 to 1985, the current 10-year yield is higher than 96% of the time! Simply put, the U.S. 10-year yield has not often risen much higher than it is today throughout U.S. history." - @jimwpaulsen $TLT
Insider Analysis retweeted
One of the big stories from October (so far) is how breadth has gotten significantly better.
S&P 500 A/D line has been soaring the past few weeks, but it is now nearing a big level. Should it eventually get above this line (I think it will), new highs on the S&P 500 won't be far behind.
Goldman Sachs says its risk-appetite indicator has turned negative for the first time since April, reaching its lowest level since the early stages of the Iran war.
Insider Analysis retweeted
HEDGE FUNDS DUMP TECH STOCKS AT FASTEST PACE IN A DECADE
Goldman Sachs reports that hedge funds cut technology exposure at the fastest pace since at least 2016 during the five sessions ending October 15.
The Nasdaq 100 plunged 5.5% last week, while semiconductor stocks suffered the largest dollar selling.
Despite the selloff, tech still represents 23.5% of hedge fund portfolios, near historically elevated levels.
Insider Analysis retweeted
This is not what you want to see if you are a $CRWV bull.
$CRWV remains one of our biggest shorts. We are short from $107.
Only a takeunder from $NVDA will prevent bankruptcy.
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CoreWeave cratered, retail backed up the truck:
Record five day net purchases of the neocloud on Robinhood
$CRWV
"The unemployment rate remains low, but the percentage of unemployed people out of work for 27 weeks or more was higher this summer than itās been for more than a decade, with the exception of Covid-19 and its immediate aftermath." @jimwpaulsen
wsj.com/lifestyle/careers/laā¦
