In this week's show, Mark and I dive deep into investor preferences. The first chart that we look at is a fun one from Michael Batnick of the S&P since March of 09 annotated with mini investor panics (GM and Chrysler file for bankruptcy, European debt crises, multiple government shut downs, COVID, etc...). Spoiler alert: the number goes up, and dips should always be bought.
Next we take a look at investor sentiment on bonds, which is the lowest it's been since 2000 according to a survey conducted by Bank of America. Consequently, aggregate capital allocation from households, mutual funds, pension funds and foreign investors is 52% allocated to stocks, even higher than it was at the peak of the dot com mania.
Mark and I take a deep look at structural growth through the lens of some fun charts we found courtesy of Raoul Pal at Global macro investor, and we end with a look at the "Quarterly Earnings" of the Ethereum network. The name that I couldn't remember during the episode was Ben Giove, thanks Ben and Bankless for the stellar info.
Mark and I spent the entire second half of the show talking about Eth and Facebook's pivot to Meta. For that info though, you're going to have to watch the show.
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Meet with investors and financial industry leaders at the Digital Asset Summit in London, November 15 & 16. For a limited time, use code YOUTUBE for £75 off your tickets. https://blockworks.co/events/das-london/
