Tuesday, November 14, 2023

Tell Me Again: We're In A Recession (Charlie Munger) -- November 14, 2023

Locator: 46053INV. 

Schwab: our local Schwab office -- and specifically our personal Schwab broker -- hosts a monthly luncheon -- Investing 101 and Market Updates -- about twenty folks are invited --for the past year it's been interesting to watch the number of investors incredibly concerned about the future of the market; it will be interesting to see the (expected) "sea change" later this month.

Big story: today, if listening to CNBC all day long -- CNBC generally very, very negative -- everything points to an incredible 2024. We may be in best "investing configuration" we've seen in a very, very, very long time.

Empire State Manufacturing Survey: holy mackerel — up 9.1% when expectations were a minus 0.9%. Bidenomics? Link here.

Houses: mortgage demand highest in five months.

Target: earnings smash estimates.

Right now, overnight futures: hold.


Wow, this gets tedious. The WSJ.

No sign of recession or stagflation: The WSJ

Wholesale prices: fall 0.5% for greatest monthly decline since April 2020 — that’s three and a half years.
Wholesale prices in October posted their biggest decline in 2½ years, providing another indication that the worst of the inflation surge may have passed. 
The producer price index, which measures final-demand costs for businesses, declined 0.5% for the month, against expectations for a 0.1% from the Dow Jones consensus.
The department said that was the biggest monthly decline since April 2020. Excluding food and energy, core PPI was unchanged, also below the forecast for a 0.3% increase. Excluding food, energy and trade services, the index increased 0.1%.

UK inflation: unexpectedly plummets. Lowest in two years.
 

UAW pact: update. More and more tea leaves suggest we're back to square one.

Polestar: update. One word: claustrophobic.

Volvo: update. Also, here.

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