🦧 recap: roughest first half of a year
🦧 recap: roughest first half of a year
🌓 h1 was crazy…
first and foremost, stocks:
s&p500 is down 21.08% ytd – this is the steepest first-half 5 drop since 1970, so literally, most of y’all have never lived an h1 like this year’s
let’s not forget about russia – the moex index is down 45%!!
then there were commodities…
just imagine, in just six months, crude oil futures (basically prices) are up 37%!
russia and ukraine, combined, produce 30% of the world's wheat. think: hella low supply. wheat futures are up nearly 15% this year… (although there’s opinion in the market it may not rise that much more, if at all)
i could go on forever about inflation, so let’s move on…
nobody likes risk these days:
eth, the only one i think is worth buying on a regular basis (kinda like a savings account), is down 72% for the year. personally, my thesis on eth hasn't changed at all.
i personally don’t see any difference between this drop and the previous ones. yes, there’s a war, pandemic, and a series of rate hikes by the Fed happening. i know, none of those happened in 2017. but when it comes to crypto, it’s just right to think simple.
i also want to go over currencies, but i figure it’s 1am now, and i got work tomorrow...
always always feel free to email me (apeofomaha@substack.com) to ask any questions! :)
💡 something im thinking about…
times like this can get tough. i genuinely hope the best for all of you all in getting through this. it’s a long weekend coming – rest up y’all
🙏 closing comments
all of this is just one ape’s thoughts, but I would love to hear what you want to know about! happy trading!
as always, just another ape's thoughts and opinions – i am no financial advisor! (i am no substitute for professional financial services)
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