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CIO of The North

@MNupdate

FO CIO. Markets, global economy, local (Minnesota) news. Opinions expressed are my own and do not express the views or opinions of my employer

 Minneapolis, MN
Joined September 2011
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🤖 Made with AI
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Grim
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Replying to @GrageDustin
@GrageDustin
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Marketing must have said 2.0% annualized Private Equity premium over US LC wasn’t enough to cover GP fees so they made it +2.3%
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Yup. Confirmed.
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Leopold to Citadel part deux? A legendary L/S HF manager (now in mid 70’s) once asked me “how many hedge fund managers who blew up, blow up again?” The answer from him was, “all of them”.
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This must be what it feels like to be a Bessent LP. Positions bleeding out as the world redeems around you while the GP’s excuses keep changing. Maybe another Blaise Pascal quote will help?
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Version with just the spread and a LT average - 2021 level of earnings optimism
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Kevin Gordon (@KevRGordon) profile pictureKevin Gordon
@KevRGordonOct 2
There's about a 5-point spread between the S&P 500's forward and trailing 12m P/E
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Saw this chart and had to run it myself. 3-month correlation breakdown of SP500 vs SP500 EW is more extreme now than tech bubble.
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Long Garbage Trucks (early AI adopters) / Short AI CapEx spenders, seems logical at this stage.
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