Hello all,
Hope you all had an excellent Halloween weekend and got to enjoy an additional hour of sleep last night (I hate daylight savings time fwiw).
Last week was an intense one in the markets and perfectly encapsulated by an outfit I saw on the street last night.
We closed out the month in a good shape and now are looking forward to the midterms.
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ELECTION WEEK
This Tuesday we have the midterm elections and in all likelihood the Republicans are losing the house and high probability that they might lose ther senate as well
This is going to spook the markets in the short term but I believe that these dips are genuinely worth buying on good companies with positive FCF (not OKLO 0.00%↑ IREN 0.00%↑ etc, those are trash). More on that later.
Last week we had argued that CAPEX is now a sell signal and it was proven right with Google shedding 500b in Mcap and Amazon following suit on their earnings
What exactly do we have in store this week?
WEEKLY TEARSHEET
These are my thoughts for this week and positioning I anticipate to occur post midterm elections and NFP.
note: there is also a pdf attached at the end if the images are difficult to read on mobile devices.
