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Joe Weisenthal Profile picture
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11 Mar, 4 tweets, 2 min read
Bidding on The Beeple is at $25 million onlineonly.christies.com/s/beeple-first… HT: @zackseward
@zackseward $25 million is a good price for it IMO.

$2.5 million would have been overpriced.
@zackseward Hoooooly shit $50 million onlineonly.christies.com/s/beeple-first…
@zackseward SOLD over $60 million

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More from @TheStalwart

Joe Weisenthal Profile picture
10 Mar
Wow! What a chart Never seen anything like this intraday

*GAMESTOP PLUNGES, ERASING NEARLY ALL ITS GAIN; SHARES HALTED

bloomberg.com/news/articles/… Image
Turns out the market was priced efficiently this morning, but it got a little bit ahead of itself
Now down 12%! Image
Read 4 tweets
Joe Weisenthal Profile picture
5 Mar
BOOOOOM

379K jobs created in February. Well ahead of 200K estimated.

Unemployment rate falls to 6.2%.

Last month revised higher from 49K to 166K

bloomberg.com/news/live-blog…
Five year rates jump after the strong number

Stock futures slip, but not that much
Other stats from the report

LFPR steady at 61.4%
U6 steady at 11.1%
Average Hourly Earnings (YOY) grow 5.3% (all kinds of composition effects in that still)
Read 6 tweets
Joe Weisenthal Profile picture
5 Mar
YOU'RE FINALLY GETTING THE STOCK MARKET YOU'VE BEEN ASKING FOR

In today's @markets newsletter, I wrote about how we finally have the right conditions such that the Fed just doesn't need to worry so much about volatility and selloffs.

Sub' here: bloomberg.com/account/newsle…
@markets Fiscal stimulus and deleveraging of private sector balance sheets means there isn't much of a transmission between asset prices and real economic activity. We might already be seeing a Fed that cares less about the market than it previously had been.
@markets As I said back in July, Fiscal expansion is the off ramp from the existing cycle. And it looks like that might be playing out.
Read 6 tweets
Joe Weisenthal Profile picture
3 Mar
IIRC, Palm was spun out from 3COM, and the stake that 3COM held in the spin was worth more than 3COM's own market cap for a period of time.
Oh yeah there's been a lot of academic discussion, I think, about why this happened in the market. q-group.org/wp-content/upl…
Read 4 tweets
Joe Weisenthal Profile picture
3 Mar
THIS IS WHY THERE'S BOTTLENECKS AND SHORTAGES THROUGHOUT THE ECONOMY

For today's @Markets newsletter, I talked with @nathantankus about why in times like this we see shortages, rather than price increases to balance out supply/demand

bloomberg.com/account/newsle…
@markets @NathanTankus Here's the comments from Monday, where every thing in the ISM survey was all about shortages and bottlenecks and supply chain disruptions
@markets @NathanTankus And a good read from @KimBhasin @JordynJournals @GufengRen on all the retailers this season talking about shipping delays bloomberg.com/news/articles/…
Read 4 tweets
Joe Weisenthal Profile picture
1 Mar
US Manufacturing is HOT bloomberg.com/news/articles/… Image
This is pretty incredible. Citi's US Economic Surprise Index was already in the range of its highest levels ever, and now it's back on the rise. Image
Every single comment in the ISM survey is about supply chain bottlenecks or increased prices. Not a single respondent saying end demand is weak ismworld.org/supply-managem… Image
Read 4 tweets

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