To The Moon

1.Tired: "why are US stocks down?"Wired: "why aren't US stocks down more?"From a Governance standpoint the USA is acting and talking like an Emerging Market.Should US stocks really be trading at a Premium vs rest of world, or more in line with EM? (i.e. ~36x or ~16x) $S&P 500(.SPX)$ $SPDR S&P 500 ETF Trust(SPY)$ $NASDAQ 100(NDX)$ $Invesco QQQ(QQQ)$ $Dow Jones(.DJI)$ Image2.Global Equities "Relative Value Trinity"...something for those focused on the next 3-5 years and beyond (vs the next 3-5 days or hours for that matter!)Image3.Gold Miners are breaking out!And yet... inves

1.Gold vs Silver ETF assetsSilver being left behind (...for now?)With retail finally starting to wake-up to gold, it makes you wonder when silver will start to join the party. $Gold - main 2506(GCmain)$ $Silver - main 2505(SImain)$ Image2.This chart shows foreign holdings of US equities vs their total holdings of US financial assets; you can see just how much foreign investors have been crowding into US stocks — just compare and contrast the peak of the dot com bubble vs the depths of the financial crisis. And the reality is foreign flows have been a critical part of the story above; driving things higher on the way up. $S&P 500(.SPX)$

1.Chinese retail investors are chasing gains in Gold $Gold - main 2506(GCmain)$ Image2."Cutting your nose off to spite your trading partners" China vs USAStockmarket edition...Dragon's jaws set to close?Image3.Global Equities: best place to be in the coming years?= Literally Anywhere other than the USA.Developed Markets ex-USEmerging MarketsFrontier MarketsAll boast higher expected returns...ImageFor whom haven't open CBA can know more from below:🏦 Open a CBA today and enjoy privileges of up to SGD 20,000 in trading limit with 0 commission. Trade SG, HK, US stocks as well as ETFs unlimitedly!Find out more here：Trade on a Cash Boost Account and enjoy up to 6 months of Commission-Free trading.💰J

I thought it worth highlighting a couple of additional charts I’ve come across that illustrate how this week’s chart may play out.The first chart shows foreign holdings of US equities vs their total holdings of US financial assets; you can see just how much foreign investors have been crowding into US stocks — just compare and contrast the peak of the dot com bubble vs the depths of the financial crisis. And the reality is foreign flows have been a critical part of the story above; driving things higher on the way up.But as alluded to, the many minds of markets are beginning to change; global investors are reporting a record high intention to underweight US equities. $S&P 500(.SPX)$ $SPDR S&P 500 ETF T

Late last year US asset valuations reached a major milestone 16-years in the making.After a golden decade for returns from the depths of 2009, the average valuation score for US stocks, corporate credit (spreads), US Dollar (DXY), and real estate —reached a record high expensive level.Even the casual observer will notice something immediately from this chart.Investors had a good-time-for-a-long-time buying when this indicator reached low levels, and had a bad time when buying at high levels.Basically we went from one of the best buying opportunities in history back in 2009, to one of the worst around the turn of the year.They say don’t bet against America, but I would say that’s more of a statement about the long-term, as there has been plenty of times where from a cyclical standpoint it m

1.Great Rotation = Out of Treasuries, into Gold $Gold - main 2506(GCmain)$ The PBOC is busily buying up gold.Why?A: An increasingly hostile USA.If you're the PBOC you *should* be rotating your FX reserves out of treasuries and into gold... Just makes rational sense.Image2.Forget measures like Volatility or the $Cboe Volatility Index(VIX)$ , the real measure of Risk for investors is this.Even though stocks go up over the long-run, they can take large and extended forays to the downside.(...aka what the finfluencers don't tell you about index investing!)Image3.Chinese Tech Stocks-still cheap vs history--a little cheaper now-not as cheap as non-techImageFor whom haven't open CBA can know more from below:🏦

1.In case there was any doubt, the chart isn't just stating preferences, there is a large scale reassessment of the USA as an investment destination that was unthinkable in the past.Perfect storm brewing...Image2.Gold $Gold - main 2506(GCmain)$ is the Most Crowded tradewith the caveat being that the answer to this question is often just "the thing that I already sold/don't own, that went up a whole lot more than I thought it would or should"Image3.Retail starting to get on board with gold...(but still very early)Image4.Just the Chinese Gold price, up nearly 4x off the 2015/16 lows 👀ImageFor whom haven't open CBA can know more from below:🏦 Open a CBA today and enjoy privileges of up to SGD 20,000 in trading limit with 0 commission. Trade SG, HK

1.Global Equities: best place to be in the coming years?= Literally Anywhere other than the USA.Developed Markets ex-USEmerging MarketsFrontier MarketsAll boast higher expected returns...Image2.Reminder: there will always be a better investment...(and p.s. it works on the way down too)So what?1. Have a process to try find these2. Don't get too caught up in FOMO Image3.Aussie Stock/Bond Ratio-turning down-follows steep run-upSo where do you go? Stocks or bonds (and which stocks, which bonds)?ImageFor whom haven't open CBA can know more from below:🏦 Open a CBA today and enjoy privileges of up to SGD 20,000 in trading limit with 0 commission. Trade SG, HK, US stocks as well as ETFs unlimitedly!Find out more here：Trade on a Cash Boost Account and enjoy up to 6 months of Commission-Free trading

GoldNuggets Digest: gold ETF allocations, PBOC gold buying, China gold ETF holdings, China asset returns landscape, gold vs tech stocks... $Gold - main 2506(GCmain)$ Gold AllocationRetail allocations to gold ETFs are starting to shift —reaching a 4-year high as inflows step up and market movements begin to drift allocations higher from near record lows. Gold miners on the other hand still see historically light allocations, with gold mining ETFs seeing ongoing *outflows*. Still looks early.China Loves Gold — PBOC“China reported 5 tonnes of gold purchases in February… China actually bought 50 tonnes of gold in February (per GS).“ This makes a lot of sense, especially with Trump tariffs and increasingly hostile treatment of China by the USA — Ch

1.One month on, Tech Stocks are still not cheap...Big question to ponder: is this reset in valuations a late-stage bull-market continuation reset? or a bursting of a tech echo-bubble... $NASDAQ 100(NDX)$ $Invesco QQQ(QQQ)$ Image2.The Stockmarket goes through cycles of Boom and BustWe just had the boomNow comes the bust... $S&P 500(.SPX)$ $SPDR S&P 500 ETF Trust(SPY)$ Image3.What stage?(and p.s. this is not the only cycle in play...)ImageFor whom haven't open CBA can know more from below:🏦 Open a CBA today and enjoy privileges of up to SGD 20,000 in trading limit with 0 commission. Trade SG, HK, US stocks as well as