Stocks are stories, Bonds are Math – No Wonder SPACS are flying And Disney Is Lagging…And Jeff Richards On The Digital Rebooting Of The American Economy

Happy Saturday everyone. I took the day off of writing but I was catching up in the studio making podcasts with Knut and recording zoom video conversations with some of my favorite investors.

There is this old saying in the markets that stocks are stories and bonds are math.

I have always been good at math, but I love stories, so stocks have always been for me.

If you love stories, 2020 has been for you.

The math has been simple in 2020…print money:

That spike in the balance sheet that began in March 2020 to fight COVID has already created some of the craziest stock stories of all time.

One of the biggest stories of the year has been SPAC’s. Here are the numbers:

The $44 billion has already given us the $NKLA story, the $SPCE story and a story of the story of the story with a SPAC ETF:

Meanwhile, Disney is the greatest storyteller of all time and can’t get their story straight for their own company. Professor Galloway has a good piece for how they could fix that and ‘Unleash The Mouse‘.

Next up…

I started recording some of my Zoom calls with investors, traders, and entrepreneur friends to share with everyone. I am calling this series of Zoom’s ‘Investing For Profit and Joy’. First up is Jeff Richards of GGV who I have had on the podcast a couple of times. He has a great feel for the biggest trends taking place around the world. I loved how he frames this moment as a ‘rebooting of the American Economy’ and I think you will get some great ideas and insights. You can watch/listen here on YouTube:

Have a great weekend.