Koyfin

The SPX was at 1,705 when GTA V launched in September 2013.

13 years later (and still no GTA VI) the SPX is approaching 6,900.

The forward P/E of the Mag 6:

• $AAPL Apple: 30.7x
• $AMZN Amazon: 27.2x
• $GOOGL Alphabet: 26.9x
• $MSFT Microsoft: 22.4x
• $NVDA Nvidia: 21.5x
• $META Meta: 21.4x

$XYZ Between December 2019 to December 2024, Block (Formerly Square) expanded headcount by a factor of 3.9x in 5 years.

With last week's announcement that 40% to 50% of headcount will be cut going forward, that would taken headcount back to between 2020/21 levels.

$FVRR Once valued at more than $11.4 billion, at the peak of the pandemic bubble, Fiverr International has slumped below a $400 million market cap.

That represents a 97% decline from all-time highs.

This year demonstrates the largest margin of underperformance for Software Stocks relative to the Nasdaq 100 since the turn of the century.

Energy (+25%) is the strongest sector as we enter the 3rd month of 2026.

Consumer Discretionary (-2.1%), Technology (-3.6%) and Financials (-6.1%) are the dogs.

US manufacturing contracted for most of the last 3 years. No recession followed. Services dipped below 50 just once, in June 2023, and quickly bounced back.

That resilience is what defined this cycle. Services PMI sits at 53.8 today.

$JNJ Highest forward price-earnings ratio for Johnson & Johnson since 2003, coming in at 21.1x.

$DUOL Duolingo, from 22x sales to 4x sales in less than 12 months.

$XYZ Block is trading +20% in pre-market after announcing they would be reducing their workforce by 40% to 50%.

$NFLX Netflix is +8% in pre-market hours after withdrawing from the Warner Bros bid.

The WORST performers in the S&P 500 in 2026:

$NVDA Nvidia CEO, Jensen Huang, on building data centers in space.

The Samsung 5-year chart is... interesting.

Software stocks, via $IGV, are seeing the highest trading volumes on record, with $2.8 billion in fund flows over the last month.

$COST The historic price trend of the Costco hotdog combo.

Here's the 10-year trend chart of $GLD assets under management.

The world's largest Gold ETF $GLD has broken into the top 10 largest US ETFs by AUM, currently sitting in 8th place.

Both Mastercard and Visa are now firmly below their 10-year average price-free cash flow multiples, and heading towards the lower band.

$MA $V

Payments stocks are down ~25% since the beginning of 2025.

The world's largest Bitcoin ETF $IBIT has shed $51 billion in AUM since peaking at almost $100 billion back in 2025.

Some of the biggest software losers so far in 2026.

The biggest US share cannibals over the last 10 years.

Software & Internet Stocks vs. Nasdaq 100 trend.

Mastercard, Visa, and American Express are now all down more than 15% from prior highs.

$AXP $MA $V

$SNOW Since their IPO more than 5 years ago, here's how Snowflake has shaped out.

Credit card rates continue to hover at all-time highs.

Both Visa and Mastercard are flat since the beginning of 2025.

$V $MA

It has paid to be invested in the banking industry over the last few years for UK investors.

Here are the 3Y returns of the five largest UK-listed banks. The worst performer put up a 33% CAGR.

An interesting divergence between Gold and its digital cousin, Bitcoin, has developed.

Gold prices march higher, while Bitcoin is ~47% below all-time highs.