This is simply incredible… At 2.6 trillion USD, Nvidia’s market cap is now 890 billion USD higher than all of the companies in the S&P 500 Energy sector (combined!).
Many of us know the saying "history often rhymes, but never repeats". In my view, that couldn't be more true of the chart below. This represents the ratio of SOX (Philadelphia Semiconductor Index) / SPX (S&P 500).
Apartment renters are signing longer leases than ever -- often at lower rates than otherwise, allowing property managers to better protect occupancy exposure against oncoming new supply. Win/win.
The spread between the Earnings Yield vs 3m T-Bill Rate is a reliable Long-Term signal for getting Onboard Uptrends when high/positive and getting Defensive later in the cycle when low/negative.
