Daily Charts - Buy & Hold?

1.Buy & Hold?

Hold on a minute...

If you buy and hold the S&P500 $.SPX(.SPX)$ index, you're not actually buying and holding, you're really buying an interest in a constantly shuffling set of stocks -- and in 10 year's time you may well not recognize 1/3 stocks in your portfolio!

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2.Non-rec Bulls 🤔

This chart shows the history of Bull markets coming out of Recession (most often large, triple digit gains) vs those *not* preceded by recession circled in blue (still significant but shorter, smaller by comparison).

One implication is that the current one looks about fully-cooked.

3."Cyclically-Adjusted Earnings"

This chart tells you all you need to know about US vs global equity relative performance...

(and likely will hold key clues in terms of the next steps from here – when/if stagnation is shaken in global ex-US earnings)

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4.How do you max-out RoE?

-Boost return on Assets

--lift profit margins

--accelerate asset turnover

-Leverage up

RoE = RoA x equity multiplier

RoA = (profit margin x asset turnover)

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