Mark Cuban Is Calling The Top In Sports Franchise Valuations

Listen in podcast app and follow below for the podcast topic arc.

1. Market update

2. Stock Market posts its best November in history

3. How to think about portfolio allocation after a historical rally in stocks and bonds

4. Mark Cuban for president or is he selling the top in sports franchise valuations

5. New CRA tax reporting rules

6. Recommendations and Links

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Market Update📈📉

Welcome back.

This week marked the completion of the very best November in history for a 60:40 portfolio of stocks and bonds. What an incredible shift in sentiment we just witnessed.

I believe we are in Phase 2 for Risk Assets.

Phase 1 was the Non-Consensus Rally.

Most capital was offside, and wrong-way positioned and value was abundant across all sectors.

In phase 2 - sentiment will thaw (a bit too quickly perhaps).

It’s clear that in this phase, people are leaning in to a new narrative.

There is still skepticism, but another layer of capital has added a bid to markets in the last month. (November)

Valuations are higher but not excessive.

Phase 2 is where markets climb a wall of worry.

Phase 3 is when Consensus is all-in and public markets valuations are excessive.

Usually you have a Goldilocks backdrop and a new economy or a “AI” narrative. That takes a few years to get going…

We have a ways to go. That's my sense today.

I'm always evaluating incoming data to test and falsify these hypothesis…

Chart from all star charts:

Twitter links from the pod:

• I tried Ozempic and… - Sam Par

• People around the world all want the same thing… and its no surprise to capitalists

• Mark Cuban quits shark tank after a decade long run

Podcast & YouTube Recommendations🎙

• Tesla unveils the Cybertruck! In 3 packages.

• Best podcast of the week comes from Peter Zeihan

• Bob Elliot Talks Market Positioning, Gold and Bitcoin:

Best Links of The Week🔮:

• Economist predicts rate cuts in 2024. Source: Financial Post

• "Amazon on Tuesday announced a new chatbot called Q for people to use at work. The product, announced at Amazon Web Services’ Reinvent conference in Las Vegas, represents Amazon’s latest effort to challenge Microsoft and Google in productivity software. It comes one year after Microsoft-backed startup OpenAI launched its ChatGPT chatbot, which has popularized generative artificial intelligence for crafting human-like text in response to a few lines of human input." Source: CNBC

• "Apple is pulling the plug on its credit-card partnership with Goldman Sachs, the final nail in the coffin of the Wall Street bank’s bid to expand into consumer lending. The tech giant recently sent a proposal to Goldman to exit from the contract in the next roughly 12-to-15 months... The exit would cover their entire consumer partnership, including the credit card the companies launched in 2019 and the savings account rolled out this year... The move would mark a swift about-face for a program that just over a year ago was extended through 2029 and was intended to serve as a pillar of Goldman’s main-street ambitions." Source: WSJ

• "Billionaire investor Bill Ackman is betting the Federal Reserve will begin cutting interest rates sooner than markets are predicting. The Pershing Square Capital Management founder said such a move could happen as soon as the first quarter." Source: Bloomberg

• "Home prices were 3.9% higher in September compared with the same month a year earlier,**according to the S&P CoreLogic Case-Shiller Index. The growth coincided with the 30-year fixed mortgage rate’s climb toward 8%. Rents are easing, however, while home prices rise." Source: CNBC

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