In previous posts (regarding equities, oil and bitcoin), I proposed that the retail investor is marginal buyer that push price higher. In this post, I suggest evidence that it is the case. First, from the FRED database, we can see that the saving rate is at a whooping 33%. How…
Posts tagged as “passive”
After saving the S&P500, speculating in the oil derivative market, the retail investors is still looking for ways to invest. This time I focus on bitcoin following this Coindesk article. The basis is a sharp increase of the number of bitcoin addresses with a balance > 0.1BTC (around $700) since…
While some are prognosticating a greatest depression (and a worldwide recession is a given), the S&P500 and the stock market in general stay steady. A year was lost for the US index, much more on the European side. On the valuation side, the PER is 21 and the Shiller PER…
During the Covid-19, bonds ETF were under a stress and the ETF price started to diverge from the underlying NAV (Net Asset Value). Was the ETF price or the underlying NAV faulty? On the chart below, we can see that volume on TLT trading began to spike on March 6…