Happy Sunday, where are the cheapest equity markets relative to economic growth? & most expensive? October 2026 valuations (forward P/E | 2027 GDP growth): 🇨🇳 China: 10.2x | 4.0% 🇻🇳 Vietnam: 17.2x trailing | 7.5% 🇵🇭 Philippines: 9.6x | 5.1% 🇮🇩 Indonesia: 8.6x | 5.1% 🇲🇾 Malaysia: 13.4x | 4.6% 🇧🇷 Brazil: 8.6x | 1.9% Vietnam seems interesting, especially with that growth. Most expensive equity markets (forward P/E | 2027 GDP growth): 🇳🇿 New Zealand: 39.0x | 2.6% 🇳🇱 Netherlands: 20.1x | 1.3% 🇺🇸 United States: 19.4x | 2.3% 🇸🇪 Sweden: 18.7x | 2.2% 🇹🇼 Taiwan: 18.7x | 4.3% 🇮🇳 India: 18.6x | 7.0% 🇦🇺 Australia: 18.1x | 1.6% 🇸🇬 Singapore: 17.3x | 3.0% Multiples based on each country's MSCI index. 🇰🇷 South Korea: 5.0× | 2.8% Korea is a weird one because of memory...

European Private Security firms probably continue to do well until governments realize that mass-illegal-immigration was a mistake. Securitas AB (STO: SECU B) trades at a forward PE 12.0× Securitas: Best if you expect French retailers, shopping centres and large businesses to increase spending on guards and technology. Verisure (More French exposure 17.4% of group revenue) trades at forward PE 15.2× Verisure: Best if you expect a sustained shift towards residential and small-business security subscriptions.

If it’s a 4 year problem then going long memory should be thought of simply as - PE<4 - you basically make 100% after 4 years and then at least have residual afterwards if margins compress like crazy - the business is still worth something after - definitely. Forward PE: Samsung: 3.5 Micron: 5 SK Hynix: 3.1 Your assumptions are basically that LTAs hold…

This could happen, but as we have seen in the past, GFC, Covid, they will NOT let the bubble burst. They would literally just print the problem away.

Schneider Electric (EPA: $SU) with impressive growth. China & Asia especially strong: Energy Management grew +32.4% organic. Energy Management grew +20.3% organic. Particularly prefabricated solutions and cooling.

$AAOI will probably need to do one more raise.

I thought that Soitec ($SOI) pricing was fixed but not exactly: "The contracts fix a price and require a deposit tied to committed demand. Customers that take the ‌agreed ⁠volume get the deposit back; those that fall short forfeit it. Volumes above the agreed level trigger new pricing discussions." reuters.com/world/asia-pacif…

Trump needs to get a deal with Iran, so oil prices come down so interest rates come down so the datacenter economy can continue its credit fueled expansion because AI needs more time to disseminate into the economy so that the funding can stop relying on credit. It seems like creditors are getting edgy. Or we just prepare for AI tokens to increase in price. Pls correct me this is my napkin math

Bro this looks retarded. It’s basically like screenshotting a chart and being like “Grok is this bullish or bearish”. Aimed at forex traders no doubt. Calling it a harness is an insult to what a harness does

By the gods we’re saved

What's the bear thesis on $AMZN at 16.4× EBITDA? No ROIC on AI Capex spend?

55% in memory. How do you reckon this guy carries his giant gonads? Over his shoulder or in some kind of hammock/sling?

wow ChatGPT can translate presentations nicely now. no need for DeepL

Wasion ($3393.HK) returned 106% for me before I sold out. I'm back in... Now it's back around HK$12, but I think the business is in a FAR better position than when I first profiled it. The stock has been hammered following management's HK$30 share placement and disappointing earnings from other parts of the group. But look at what's happening: Wayon Energy (majority-owned by Wasion) has secured over RMB4bn in overseas orders this year, including RMB570m+ in data-center thermal management. Digital-energy orders doubled YoY in H1. Wasion just announced another RMB1.25bn in Middle Eastern smart-grid contracts. ALSO, on 12 October, Wasion Americas announced its smart meters had passed ANSI certification, clearing a major technical hurdle to entering the North American market with its core products. The share price has collapsed, but the business opportunity looks considerably larger than it did a year ago.

I feel like the experts out there like @insane_analyst and @vikramskr have known for a while that MicroLED won't work. But in recent months they have shifted sentiment more positively towards VCSEL. ams Osram mentioned here...will probably slowly get on more people's radars. Here's Osram working with Credo on VCSEL. Thanks @MoodyWriter13.

$ASML CEO says some customers are placing orders with them for 2030... "Our customers continue to increase their short- and medium-term equipment demand forecasts with us, driven primarily by their views on the size and duration of AI-related investments. In light of their demand visibility, some customers are expressing an interest in placing orders with us for 2029 and even 2030." They are trying to increase their capacity for 2028 beyond the 30% they previously communicated.

That should bring the oil price down. Central banking is the biggest scam ever. its just a mechanism to inflation tax the citizens so you can tax more than 50% of their income.