It’s not often you come across a chart that makes you immediately spit your peppermint tea out, copy and paste the link, and send it to all your finance banter WhatsApp groups (soon to be Signal, obvs).So it is with great pleasure that we present to you the below from Jim Bianco of Bianco Research.It shows a Goldman Sachs constructed index of non-profitable US listed firms, and it’s fair to say that after a few years of trundling sideways these companies’ share prices have done rather well since the Covid crash.Ay caramba! And if you’re wondering about the constituents, here’s a breakdown off Twitter, courtesy of account @elasticretreat. Now there are two ways to frame this chart.One is that the stock market has totally lost its marbles, and in a bid to make
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It’s not often you come across a chart that makes you immediately spit your...