If I can interrupt the festivities of Presidents’ Day for a moment, here are a few tidbits from the boys in Gainesville I thought were worth sharing. First up is the plot of how many assets are put into leveraged bullish funds (white) versus bearish (blue). The contrast is stark – – a ten-fold difference – – which is a record. Let’s just admit there are no bears left.
Next up is an interesting time relationship. There were 13,308 days between the 1929 peak and the 1966 peak. 1966, eh? The year I was born. That explains a lot. Anyway, there were 21,533 days between the 1966 peak and (God willing) the 2025 peak. It could be just an insane coincidence, but the golden ratio relationship between these two timespans is at least worth a mention.
It was also noted by Bloomberg that the funds in their gold ETF have been pretty static for years, the funds in their Bitcoin fund have blasted past it. That’s particularly strange, considering how gold has done vastly better than Bitcoin in recent months.
Who are we kidding, though? There’s only one market that really matters.
