One Last Yolo - Part III
We continue our journey for sensible "Yolos" in the Golden Age of Grift aka GAG™️
It’s such a funny market.
On one hand, the Bears are getting slaughtered as the Nasdaq is making yet another All-Time High…
…on the other hand, most Bulls also got slaughtered this week since Breadth was terrible.
The S&P 500 Value component (i.e. the non-Ponzi part of the S&P 500, best depicted by the ETF with ticker: IVE) is down 10 days in a row, the worst streak in History (h/t @barchart).
In fact, IVE has suffered the same drawdown in December as it did during the Yen-pocalypse of August!
So who’s winning?
In a classic case of Reality beating Parody, James Fishback, Head of Macro, introduces Donald Trump to Cathie Wood, Queen of Ponzi, and President Trump tells her: “Congratulations! I heard that you did a great job”.
That’s who’s winning. You didn’t see Trump shaking hands with a short-seller did you? 😂
