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Investing

Bottoms, Bulls and BlackRock

Fact 1: Corporate insiders have historically had a knack for buying near market bottoms.

Fact 2: Investor bullishness has declined during 2021. However, sentiment has recently recovered.

Fact 3: Over the past decade, small cap tech stocks have underperformed small cap cyclicals. Technology leadership has clearly been limited to big cap indices.

Fact 4: A sign of a liquidity trap, deposits have grown massively since the start of the pandemic, hitting $4.5 trillion. Of course, this additional savings hasn’t accrued to everyone, as many people continue to live paycheck to paycheck.

Fact 5: The post-shutdown experience was supposed to be one of massive economic recovery. Instead, Q3 GDP estimates have been trending down since the summer, with current estimates as low as <1%. Meanwhile inflation is spiking. Stagflation anyone?

Fact 6: During the pandemic, BlackRock’s AUM has quietly reached almost $10 trillion.

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