10k Words - November 2020
Apparently, Confucius didn’t say “One Picture is Worth Ten Thousand Words” after all. It was an advertisement in a 1920s trade journal for the use of images in advertisements on the sides of streetcars. Even without the credibility of Confucius behind it, we think this saying has merit. Each month we share a few charts or images we consider noteworthy.Running with a US focus, TheDailyShot looks at how individual investors are fuelling trade in lowly-priced stocks (in dollar pricing, not valuation multiple), with small caps back in favour according to TradingView and TheDailyShot. BAML shows the market is reacting the opposite way around to tech sector earning surprises, while Bloomberg gives us a look at US EPS growth by sector. Google shows us how retail and recreation foot traffic has been impacted, via WSJ, while Bloomberg and SentimenTrader update us on low and sub-zero bond yields. Finally, we couldn't completely avoid the US Presidential election so WSJ shows us the decline in equities that occurred in the last contested election in 2000.