📑 Research Notes for 2021-11-01
This week, we look at burgeoning private capital markets, record house price increases, the job market after the pandemic, and timing the stock market bubble.
We conduct extensive investment research and share the most interesting content that we come across every week. Here is a curated list of this week’s top observations.
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The Dangerous Private Capital Party.
(Financial Times)
The frenzied boom in private markets is one of the biggest trends in the global money management industry. It will leave many investors bitterly disappointed and could ultimately cause wider, long-term economic problems.
Case-Shiller National Index Up Record 19.8% YoY in August.
(Calculated Risk)
The MoM increase in Case-Shiller was at 1.43%; still historically high, but lower than the previous five months. House prices started increasing sharply in the Case-Shiller index in August 2020, so the last 13 months have all been historically very strong, but the peak MoM growth is behind us.
Jobs People Want After The Pandemic.
(Axios)
Workers have the power, and some industries are struggling way more to hire than others, according to a new report from the jobs site Indeed. Labor shortages in those industries will continue to hobble the economy. Interest in civil engineering jobs and IT operations jobs has surged the most since the pre-pandemic era. Postings for both types of jobs are getting 59% more clicks on Indeed now than in February 2020.
It's Becoming Tempting to Try Timing the Bubble Again.
(Bloomberg)
U.S. stock indexes are at all-time highs again. A Bitcoin will still cost more than $60,000. Tesla Inc. (likely revenue for this year: $51.1 billion) is worth $1 trillion. There’s a mighty plausible case that we have a bubble on our hands. So what?
Curated by Joseph Lu, CFA®
Joseph has over a decade of experience as an investment professional, primarily in quantitative analysis and portfolio management roles. He is the founder and managing director of Conscious Capital Advisors and a CFA® Charterholder. The CFA charter is a globally respected, graduate-level investment credential by the CFA Institute, a global association of more than 90,000 investment professionals working in over 133 countries.
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