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On today’s show, we discuss:
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Since May, 2021, stocks have gotten 19% cheaper.
– In May, 2021, PE was 33.1x
– Now it’s 26.7x
– So 19% cheaperYet over the same timeframe, stocks have rallied +38%.
How?
Earnings growth. Not “speculation.”
— Matt Cerminaro (@mattcerminaro) October 14, 2024
Real wages are growing, and they’re growing at a rate at or even above the pre-pandemic trend. pic.twitter.com/8d6V5tsQf7
— Justin Wolfers (@JustinWolfers) October 10, 2024
Airbnb is down 7% since going public in late-2020
The S&P 500 is up more than 66% in that time
Good companies/products don’t always make for good stocks (and vice versa)
Signed,
Guy who bought the stock at the IPO pic.twitter.com/wEwDqbRxhe
— Ben Carlson (@awealthofcs) October 10, 2024
Growing up I was solidly middle class.
I also…
-Lived an hour further outside the city than my parents would have preferred
-Went to a sit down restaurant ~1x / month
-Was a latch key kid starting in 3rd grade with two working parents
-Never would have even contemplated the…— Jake (@EconomPic) October 10, 2024
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