What We Can Learn From Drake's Media Strategy
Netflix dominates, MSFT monetizes ChatGPT and the impacts of Bill C-18
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A quick Market Update featuring some insights from JC Parets’ newsletter
MSFT’s new Chat Ai integration with Microsoft 365
Bill C-18 impact on the Canadian media landscape
Netflix continued dominance in the
Recommendations and must listens
some thoughts from JC Parets:
Technical Analysis is the study of the behavior of the market and its participants. So while identifying price trends is our ultimate goal, sentiment plays an important role in that process. Prices don't move up or down because of "fundamentals" or "the economy". The price of assets move based on positioning. When investors are all positioned one way, and are at a consensus, who's left to drive prices further in that direction?
Last summer we saw some of the most pessimistic sentiment towards stocks in history.
Some of that sentiment has started to shift a bit, like in the AAII and II polls. We're back somewhere towards the middle in those. You need, at least, some bulls to buy stocks to have a bull market.
But when it comes to Fund Managers, Cash is still their largest position, and they're most bearish on equities.
This is not something we see historically right before a major market selloff. Quite the opposite, in fact.
This is fuel for further gains. This cash needs to be put to work.
J.P. Morgan asked investors if they plan to increase or decrease exposure to stocks in the coming days/weeks.
We're down to only 17% of respondents who are looking to add to equity exposure:
Again, it's when they all plan to add to equity exposure that investors should start to worry.
Currently it's the exact opposite.
They're all scared to death.
And the S&P500, Dow Jones Industrial Average and Nasdaq100 all keep closing at new 52-week highs.
This is not something we see in downtrends.
So what do we know? Stocks have been going up consistently over the past year. And investors are not participating.
Who on earth could they be listening to?
Well, let's remember that after the greatest first half to the Nasdaq in history, Wall Street strategist currently have their most bearish second half outlook on record:
Investors have found themselves following wall street strategists into really bad decisions.
Twitter Links we reference:
🎙Podcast & YouTube Recommendations🎙
This weeks All-In Pod was actually worth a listen, if only for their thoughts on Debt to GDP financing at the national level:
The Acquired Podcast: Porsche
Harrison Ford goes On Conans Pod:
🔮Best Links of The Week🔮
Bill C-18 and it’s impact on Canadian Media - Globe and Mail
Why you believe the things that you do - Morgan Housel
Michael Parekh has a great overview of Elon’s Xai announcement. Sign up for his free blog covering all things AI.
"China’s billionaires have stepped out of the shadows to praise the Communist party’s efforts to restore private sector confidence as Beijing attempts to recharge the economy’s faltering post-pandemic recovery. The country’s typically low-profile titans of industry — many of whom have been hit by regulatory crackdowns in recent years — put out a series of editorials and statements on Wednesday and Thursday declaring their support for an action plan by the party to bolster private companies. The apparently orchestrated expression of confidence from the tycoons comes as the world’s second-largest economy is struggling with sagging private sector business and consumer confidence." FinancialTimes
"Cruise, the self-driving arm of General Motors, has begun initial testing and data collection in Miami, the company said in a tweet Wednesday... The news comes two months after Cruise expanded to Houston and Dallas, where the AV company has begun supervised testing and is on track to begin driverless ride-hail service for members of the public “soon”... Most of Cruise’s operations have been in its hometown of San Francisco, where it competes head-to-head with Alphabet’s Waymo. The two companies are currently in permit limbo as they await California’s Public Utilities Commission to grant them both the right to charge for robotaxi services throughout the city 24/7... Waymo and Cruise have run up against opposition from residents and city agencies, which may have caused the CPUC to delay hearings to approve their permits." TechCrunch
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