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Grantham Q2 letter finally out


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#1 K Wave

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Posted 02 September 2021 - 12:09 PM

https://www.gmo.com/...arterly-letter/

 

always worth a read....



#2 cycletimer

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Posted 02 September 2021 - 12:34 PM

https://www.gmo.com/...arterly-letter/

 

always worth a read....

He's a Perma-Bear but it's still very much worth the read.  



#3 redfoliage2

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Posted 03 September 2021 - 07:43 AM

The market is at a very toppy level and Expect fund re-balance moves thru out Sept ......................



#4 pdx5

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Posted 03 September 2021 - 02:51 PM

PERCENT OF U.S. STOCKS TRADING OVER 10X PRICE/SALES

 

bi_exhibit-7.jpg


Edited by pdx5, 03 September 2021 - 02:53 PM.

"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule

#5 K Wave

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Posted 03 September 2021 - 04:03 PM

PERCENT OF U.S. STOCKS TRADING OVER 10X PRICE/SALES

 

bi_exhibit-7.jpg

 

Yup..could get even crazier.

 

It is why I am watching the Mega Caps, where 3 stocks are 30% of the Naz 100, and just 7 companies are nearly 50%

 

Price/Sales

AAPL     7.5X

MSFT    13.6X

GOOGL/GOOG 8.9X 

AMZN     4.0X

FB        10.5X

TSLA   19.9X

NVDA  25.8X

 

Average=12.9X

 

When the big guns turn, it's over....but not until they do....

But certainly at a level where it could happen at any time.

 

Nasdaq Comp in 2000, total market cap was about 6.6 Trillion on +/- 2500 stocks

 

Just the top 7 Companies now +/- 10.8 Trillion


Edited by K Wave, 03 September 2021 - 04:07 PM.


#6 cycletimer

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Posted 03 September 2021 - 04:10 PM

I'm with Y'all on this.  Almost a Generational Top but timing it is tricky.  As a trader I want to catch a few % off the top.  I plan on buying puts but not until after Labor Day, due to premium erosion over a long holiday weekend.