Dude

I think affordability may be the biggest driver - has children per home really changed all that much since the 2015 peak?

I wish you did not have the track record you do with this

Presumably he is referring to this one which is going viral on twitter. But I don’t think that’s a real photo. Neither of the guys have nods attached…

This is maybe the one nice thing about the new GF screen (fwd FCF) but man did they make the UI significantly less friendly

Currency for sure but rates largely technical, no? Given what was a 3.87% trough on 10s all of 48 hours ago

He is even more underwhelming in person

A bit of a start point bias issue here, right? Slightly after GFC bottom

Plus data since 1970 misses similar performance post WW2 if I am not mistaken (need to rerun numbers)

I found the EM comments strange

So China and ex India EM both “require 0% EPS growth” to deliver - therefore necessitating return via multiple expansion - yet that multiple expansion would then be expected to occur *absent* any EPS growth?

That feels a bit deus ex machina

"Kamilton": the 2024 election and who tells your story A reflection on the 2024 election and who tells your story. On Trump’s victory: market implications of a supply side boost from deregulation clashing against inflationary impulses of tariffs and depor...

Agree on Yellen but Michael Cembalest made some interesting points about an area where she fell wanting am.jpmorgan.com/us/en/asset-...

This will not change until incumbents get fired (due to budget pain)

Circa 10 years from now I would not be surprised if the Swensen/Yale approach has become a third rail