Welcome to another week of CrowdCent Curation - helping you see the world the way it is, not how the misaligned media want you to see it. Enjoy the content below, and feel free to share the newsletter with family, friends…. anyone who may be interested:
Recap: Unique interview with David Rosenberg, a highly respected economist/strategist, on the most probable path(s) forward for the economy and markets
Comment: Most economists look at the past and tell you what happened - not particularly useful in forward-looking markets. This interview focuses on the future, with a particular emphasis on the rising risk of insolvencies (insufficient cash flow to meet obligations) and related job losses (potentially permanent)
Recap: A conversation with our community highlighting the economic and investment landscape backdrop - how do you allocate capital in a 0% interest rate environment?
Comment: Clearly allocation varies by person/risk tolerance. The Fed is forcing people to shift portfolios out on the risk curve, and attempting to get people to spend vs. save (otherwise GDP collapses) in a fight against deflation. We likely need to see a big insolvency event to drive a sustained risk-off environment
Recap: A surprisingly *excellent *interview covering the current financial market backdrop, the intertwined political landscape, and the rising interest in bitcoin / digital currencies
Comment: Bit long, but worth the listen - ties many disparate elements (politics, Fed, digital currencies, etc.) together and ultimately foots with our views on the facts of what is happening beneath the surface
Recap: Short & sweet article that highlights the bubble and tech facade (normal businesses *masquerading *as high-growth tech companies) in private markets
Comment: Simple article that highlights the power of narratives, FOMO (human behavior/psychology), and incentives. This all certainly happens (and is happening) in public markets, but the music eventually stops. Focus on gross margins as a proxy for 'pricing power'
Recap: Another community conversation, spurred by Jack (@jlm278). Fast followers in Tech tend to improve on the first mover and reap rewards. The current market environment is particularly conducive for Tech
Comment: Tech companies are the main ones investing and creating value. Be wary of tech posers (e.g. WeWork - real estate company posing as Tech) - gross margins are a key indicator (as The Great Public Market Reckoning highlights above)
Thoughts, comments, additional things to share? Throw ‘em in the thread and/or Telegram…