Of all the 'macro indicators' out there, if i had to choose one to assess risk-reward for equity markets, it would the this 👇
Update: HY yield spread down more than 125 bps since then...\U0001f914 pic.twitter.com/SVrfqB8dMA
— Harish Krishnan,CFA (@hktg13) August 19, 2022
More from Sandeep Kulkarni
This is Nifty's chart from 2004 to 2006. Back then also US interest rates had gone up. Markets had corrected well before Fed had hiked rates for first time in 2004, from then it hiked rates 17 times by 4.25% over next 2 yrs and yet market kept making new highs. @shivaji_1983 pic.twitter.com/EAFhske9EE
— Sandeep Kulkarni (@moneyworks4u_fa) February 11, 2022
Infosys PEG ratio (1-year fwd PE/EPS growth) down to 1.4x from a peak of 2.7x as PE cut by 27% & EPS growth cut by 5% - trades at 23.3x PE for 11% FY23 growth. If this is a mid-cycle correction, its done BUT if this is the great valuation reset - more fall coming
— ThirdSide (@_ThirdSide_) May 25, 2022
Place your bets pic.twitter.com/9ZlaLDcxPZ
More from Screeners

Sir Edwards & Magee discussed sloping necklines in H&S in their classical work. I am considering this breakdown by Affle as an H&S top breakdown with a target open of 770.
— The_Chartist \U0001f4c8 (@charts_zone) May 25, 2022
The target also coincides with support at the exact same level. pic.twitter.com/n84kSgkg4q
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As a dean of a major academic institution, I could not have said this. But I will now. Requiring such statements in applications for appointments and promotions is an affront to academic freedom, and diminishes the true value of diversity, equity of inclusion by trivializing it. https://t.co/NfcI5VLODi
— Jeffrey Flier (@jflier) November 10, 2018
We know that elite institutions like the one Flier was in (partial) charge of rely on irrelevant status markers like private school education, whiteness, legacy, and ability to charm an old white guy at an interview.
Harvard's discriminatory policies are becoming increasingly well known, across the political spectrum (see, e.g., the recent lawsuit on discrimination against East Asian applications.)
It's refreshing to hear a senior administrator admits to personally opposing policies that attempt to remedy these basic flaws. These are flaws that harm his institution's ability to do cutting-edge research and to serve the public.
Harvard is being eclipsed by institutions that have different ideas about how to run a 21st Century institution. Stanford, for one; the UC system; the "public Ivys".