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Animal Spirits:

On at present’s present, we focus on:

• The Blob: Capital, China, Chips, Chicago and Chilliwack

• Massive Tech’s Pricey AI Race is Fueling A whole lot of Billion of {Dollars} in Debt Offers

• The S&P 500 Index Is Very Dear. Modify, Do not Flee.

• In reminiscence

• Wacky world of child names: guess how a lot mine price?

• Rise and fall of the nepo homebuyer

• Some PE Companies Doomed to Fail as Excessive-Flying Trade Loses Its Method

• Why American households are a lot richer than us

• Speaking Wealth, by The Compound

Charts:

Tweets/Bluesky:

It’s value remembering that whereas the top-heavy focus through the late 1990’s was shortly reversed within the early 2000’s, through the 1950’s and 1960’s the market remained top-heavy for a few years earlier than extreme valuations lastly took their toll. This might take a while.

– Jurrien Timmer (@TimmerFidelity)
8:30 PM • Sep 25, 2025

The leaders of the pack, the Magazine 7, proceed to guide with their earnings and are usually not displaying indicators of valuation excesses.

Taking a broader lens to the Magazine 7 and looking out on the Nifty Fifty, my examine of the 50 largest shares reveals that we’re nowhere close to the valuation extremes

– Jurrien Timmer (@TimmerFidelity)
4:30 PM • Sep 25, 2025

These numbers are in billions.

— Josh Schafer (@_JoshSchafer)
12:48 PM • Sep 25, 2025

World new highs aren’t fading… they’ve been accelerating.

73 days of extra new highs than new lows… longest run since Might 2021

This isn’t remoted power.

👉stockmarketmedia.com/2025-09-29/glo…

— Grant Hawkridge (@granthawkridge)
10:12 AM • Sep 29, 2025

The 4 largest speculative “quantum” shares – $IONQ $RGTI $QUBT $QBTS – got here into at present up a mean of two,750% year-over-year.  Analysts estimate mixed 2025 revenues for these corporations will probably be about $124 million.  They’ve a mixed market cap of $46 billion.

— Bespoke (@bespokeinvest)
6:25 PM • Sep 25, 2025

The variety of levered ETFs has doubled over the past three years, and belongings underneath administration have nearly tripled since 2022

@LeutholdGroup

– Gunjan Bnerji (@gunjanjs)
12:14 PM • Sep 24, 2025

Wow. Closing learn on Q2 GDP is 3.8%. (The preliminary report was 3%)

Consumption was +2.5% in Q2. Each items and companies spending was wholesome.

The U.S. shopper remained lots stronger than many thought, even within the midst of a inventory market sell-off and lots of commerce uncertainty.

— Heather Lengthy (@byHeatherLong)
12:44 PM • Sep 25, 2025

There’s a girl in San Francisco who prices $30k to call your child.

She began at $100, however she was going to dinner with VCs and a good friend instructed her to cost extra and no person blinked.

The Bay Space may be the very best place on this planet for this sort of enterprise.

– Sheel Mohnot (@pitdesi)
1:47 PM • Sep 28, 2025

Suggestions:

• 11/22/63 by Stephen King

• Associates with Youngsters

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