Overindebted Out-of-Cash Sleep Number Blames Consumers for Results of Years of Mismanagement. Shares Collapsed 92% from Peak Consensual Hallucination by Wolf Richter • Nov 8, 2023 • 125 Comments This is the kind of chart my pantheon of Imploded Stocks is full of, driven by what I call “consensual hallucination” that then vanished.
WeWork Finally Files for Bankruptcy two Years after Going Public via SPAC. Office Landlords, CMBS Holders Face the Music, Stockholders Wiped Out by Wolf Richter • Nov 7, 2023 • 94 Comments Spent its entire life burning $13.8 billion of investor cash. Landlords got free manna from heaven and can’t complain. A good scheme while it lasted for everyone but investors.
Fed’s QE Giveth, Fed’s QT Taketh Away: Russell 2000 Hits 3-Year Low, Nasdaq Back to Dec 2020, S&P 500 Back to Apr 2021 by Wolf Richter • Oct 28, 2023 • 241 Comments Since QT started, stocks have been on their own, after having been babied by the Fed since 2008. And it’s not working out.
Prices of New Houses -15% from Peak on High Inventories. Sales Held Up with Lower Prices & Massive Mortgage-Rate Buydowns by Wolf Richter • Oct 25, 2023 • 153 Comments What homebuilder PulteGroup said about mortgage-rate buydowns. Homebuilders have figured out this market, homeowners have not.
Alphabet Shows the Mega-Layoff Announcements Were Just That, Headcount Dropped Far Less and is Rising Again by Wolf Richter • Oct 25, 2023 • 52 Comments But the layoff announcements across tech and social media were effective in re-explaining to workers who the boss is.
Teladoc’s Investors Came out of Consensual Hallucination and Smelled the Bad Breath? by Wolf Richter • Oct 24, 2023 • 65 Comments Down 94% from the infamous February 2021. These kinds of goofball charts are stunning — and now totally common.
EV SPAC VinFast Collapses 92% in 31 Trading Days, $213 Billion in Fake Market Cap Evaporated in Hilarious Manner by Wolf Richter • Oct 10, 2023 • 135 Comments Obviously, this kind of idiocy should never happen in a healthy stock market. But it has happened a lot.
My Take on What QT Has Done to Stocks, Bonds, Commercial Real Estate (Lots of Bloodletting) & What it’ll Do Going Forward by Wolf Richter • Oct 7, 2023 • 215 Comments Fundamentals boiled down to QE or QT since 2009. Now there’s lots of QT, globally, to battle the worst inflation in decades.
THE WOLF STREET REPORT: Stocks, Bonds & CRE Face QT by Wolf Richter • Oct 1, 2023 • 140 Comments Fundamentals for markets have boiled down to QE or QT since 2009. Now there’s QT, a lot of QT, globally, to battle the worst inflation in decades.
Another Recession Indicator Refuses to See a Recession: Corporate Profits without Federal Reserve Banks Hit Record by Wolf Richter • Sep 28, 2023 • 136 Comments Massively inflated during the pandemic, corporate profits are still not normalizing, and bode well for future investments and economic growth.
