META & The UFC?

META & The UFC?

Meta Platforms (META) would provide the UFC an on-ramp to the metaverse. The UFC would provide META with valuable global content that could both serve as grist for META's virtual reality mill and provide META with a competitive edge in the content wars versus TikTok, Apple (AAPL), Amazon/Prime Video/Twitch (AMZN), Apple (AAPL), Google/YouTube (GOOG), Microsoft/Xbox … Continue reading META & The UFC?

P/E Multiples In Flux

P/E Multiples In Flux

P/E multiples will be in flux for the next few months. Phase I will begin in October. Phase II will begin in January. The sequence will look something like the following: Analysts: Many sell-side analysts will revise their December quarter Revenue and Earnings estimates downward coming off of the September quarter earnings calls beginning in … Continue reading P/E Multiples In Flux

What Would Cause The Fed To Pivot?

What Would Cause The Fed To Pivot?

Credit Markets (Yes): A liquidity crisis would cause the Fed to pivot. If the credit markets seized up the Fed would intervene. Market intervention is after all the Fed's operating model (as is the case for all central banks). Consumers and investors would have to lose confidence in the U.S. Economy to the point where … Continue reading What Would Cause The Fed To Pivot?

The U.K., The U.S., Inflation & Real Yields

The U.K., The U.S., Inflation & Real Yields

The Bank of England stepped into the bond market, agreeing to purchase Government long bonds until October 14th. The BoE plans to restart its Government bond sale program on October 31st (the central bank plans to sell GBP 80 billion of bonds each year as part of its tightening process). How did the U.K. find … Continue reading The U.K., The U.S., Inflation & Real Yields

The Return of Active Management

The Return of Active Management

Our view of the Equity market over the next few years calls for a choppy market that will reward Active Managers and penalize the Buy & Hold crowd. This forthcoming "choppy" market will not be a market where most Technology stocks move up or down, or where certain sectors move in unison. Rather, we are … Continue reading The Return of Active Management