Category: Blog

Berkshire Hathaway Annual Return Minus the Total Return of the S&P 500 Heavy on banks, but light on tech. Has Warren Buffett lost his mojo? Image: Financial Times

U.S. Corporate Debt Outstanding by S&P Ratings Should investors be worried? The proportion of BBB-rated bonds has increased significantly over time. Image: Deutsche Bank Global Research

MSCI ACWI Value vs. Growth Relative Valuation and Global Manufacturing PMI Chart suggesting that value should outperform growth in the recovery phase. Image: Morgan Stanley Research

Equity Over-Valuation Composite Indicator Is the current stock market the most overvalued since 1998? 78% of FMS investors think so. Image: BofA Global Fund Manager Survey

China Monthly Economic Indicators China recovery is far from complete, as demand remains weak. Image: Gavekal, Macrobond

Composite PMI Output Index Chart suggesting that the recovery looks V-shaped, so far. Image: Macrobond Financial

S&P 500 Bull/Base/Bear Forecasts for June 2021 Morgan Stanley is bullish, raising its June 2021 S&P 500 target to 3,350 (base case scenario). Image: Morgan Stanley Research

Sentiment Indicators Relative to their 10-Year Range Chart suggesting that investor sentiment and positioning look weak overall. Image: Morgan Stanley Research

Hedge Fund Current Net Exposure to the Equity Markets Hedge fund net exposure to equities is now high relative to recent history. Image: BofA Global Fund Manager Survey

S&P 500 Index Drawdowns After Rally Off Lows After major bear market lows in place, pullbacks are actually perfectly normal. Image: LPL Research

Share of Countries in Recession The global economy plunges into the worst recession since World War II. Image: The Wall Street Journal