The Oracle Speaks Out 🌽

Weekend Rip 2/23

Good Sunday folks. We aren’t out of the woods just yet for earnings this quarter. Big dogs like Shake Shack, Home Depot, Virgin Galactic, Square, and Beyond Meat are expected to report this week. (See more below)

Here’s the weekly S&P 500 chart. It nearly put in an inside week despite the selling that occurred Thursday and Friday.  

It’s worth mentioning, the Russell 2000 outperformed the other major indices last week. 

S&P 5003,337-1.25%
Nasdaq9,576-1.59%
Russell 20001,678-0.53%
Dow Jones28,992-1.38%

Weekly percent changes

Warren Buffett’s Annual Letter to Shareholders

On Saturday Warren Buffett shared his annual letter. 2019 was Berkshire’s worst underperformance relative to the broader market in nearly a decade. However, since 1964 the firm is up 2,744,062%. Not too shabby.

Here’s the full 14-page letter.

Check out this yearly chart of $BRK.A 🤯:

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Stocktwits Sentiment Charts

Here’s a year-to-date price and Stocktwits sentiment data chart for the S&P 500 ETF ($SPY). We can see sentiment began deteriorating on Tuesday ahead of Friday’s price decline. Stocktwits Sentiment also made a lower high even as the index was closing at all-time highs. Make of this what you will.

Masters in Business

On this Masters in Business podcast, Barry Ritholtz chats with BlackRock’s global head of sustainable investing, Brian Deese, on what’s driving ESG investing. 

Here’s a quote from Brian:

The rate of change and adoption of renewables is very fast even though we are still moving up at a relatively low base. 

With the recent outperformance in solar and clean energy stocks, this is worth a listen.  

The Week Ahead

And now a brief and well-organized look ahead at the trading week beginning Monday, February 24, 2020:

Economic Calendar:

2/25 February Consumer Confidence (10:00 AM EST)

2/26 January New Home Sales (10:00 AM EST)

2/26 EIA Crude Oil Inventories (10:30 AM EST)

Here’s the full Economic Calendar provided by Briefing

Earnings Ahead:

Another busy week of earnings ahead. Here’s Earnings Whispers’ great visual.

Be sure to know when your stocks are reporting. Here’s the full earnings calendar.