Kalani o Māui
@mauiboymacro
Kamaʻāina | Entrepreneur | Investor | Wall St Alum | Former Financial Services Executive
End of week cleanse. Happy Aloha Friday everyone. Mākena, Maui, Hawaii 🤙🏼
Debt and leverage hide a lot of sins. The mistake investors make is thinking these sins will stay hidden. Exhibit A:
End of week cleanse. Happy Aloha Friday everyone. Hana Coast, Maui, Hawaii 🤙🏼
How is it that we’ve entrusted the future of our whole society to a handful of guys who between them (or working together), couldn’t accurately read a social cue?
End of week cleanse. Happy Aloha Friday everyone. Haleakalā Sunrise, Maui, Hawaii 🤙🏼
If data centers are going to be so profitable, why are the builders/developers so eager to offload their ownership stakes? 👇🏼
End of week cleanse. Happy Aloha Friday everyone. Sunset - Wailea , Maui, Hawaii 🤙🏼 *Taken on my iPhone, not AI.
End of week cleanse. Happy Aloha Friday everyone. Polipoli Sunrise, Kula, Maui, Hawaii. Have a great holiday weekend! 🤙🏼
End of week cleanse. Happy Aloha Friday everyone. Makena Sunset, Maui, Hawaii 🤙🏼
1/3 This chart from FT Alphaville shows the number of stocks among the largest 1,000 U.S. companies (by market cap) with a negative beta to the S&P 500, calculated on trailing 252-day (roughly one-year) daily returns. Basically, it shows the most extreme market concentration in history.
This chart that I’ve previously shared from @hussmanjp.bsky.social is (in general) the visualization of the Kalecki-Levy profits equation. 👇🏼
This chart is so ridiculous, it’s laughable. Deliberate chart crime. That you continue to share garbage from Duality Research is shameful. For the record, At the end of May, the inflation-adjusted S&P Composite Index is 207% above its long-term trend (over 4 standard deviations). 👇🏼
End of week cleanse. Happy Aloha Friday everyone. Hana Sunrise, Maui, Hawaii 🤙🏼
End of week cleanse. Happy Aloha Friday everyone. Kapalua, Maui, Hawaii 🤙🏼
They keep trying to convince you that we’re not in the largest bubble in history. 👇🏼
End of week cleanse. Happy Aloha Friday everyone. Hanalei Bay, Kauai, Hawaii 🤙🏼
End of week cleanse. Happy Aloha Friday everyone. Central Valley, Maui, Hawaii 🤙🏼
His statement about average workers pay is based on one data point. When looking at all the other relevant data points, it’s verifiably false. Two examples…
1/4 The attached chart is helpful for understanding how inflation is moving through the supply chain and the volatility of producer vs. consumer prices during energy or commodity shocks.
Forward metrics are hot garbage. I suspect that’s why Duality Research is using them to push their narrative. Here’s the real story: At the end of April, the inflation-adjusted S&P Composite Index is 191% above its long-term trend. 👇🏼
1/2 I don’t think this is getting enough attention. These hyperscalers are booking the perceived (unrealized) price appreciation of their ownership interest in private companies like OpenAI and Anthropic as “other income”, boosting their earnings. 👇🏼