FlashNotes

Last week, I wrote a piece explaining how tech layoffs may imply slower growth for the mega-caps in 2023. If you haven’t, then I recommend skimming it; the implications came to fruition for MSFT, AMZN, AAPL, and GOOG. As each announced, the post-market reaction was mixed but became decisively negative once forward guidance revealed slower…

In bear markets, stocks have a tendency to behave like commodities, trading up and down together based on the macro. Bull markets are different; they feature differentiation.  Throughout 2022, there was no differentiation. Economic sectors were judged by their weakest link. On two separate occasions in 2022, negative headlines regarding Snapchat (SNAP) brought down the…

In the first two weeks of the year, each major has rallied between 3-5%. Select individual names are up 15-30%. There is no debate: 2023 has been a great start for equities, especially for stock pickers. It is important to keep your greed in check. Bears and bulls may not get along, but they both…