YWR: Killer Charts

There were so many charts this month I split it into 2 presentations.

At the bottom (and in YWR Library) there is a deck for:

• Killer Charts (42 slides)

• Coatue’s East Meets West 2024 tech trends presentation (46 slides)

The Coatue presentation is especially good and worth reviewing in depth.

Here are my top 10:

1. The end of inflation is consensus.

   

   BofA Fund Manager Survey

2. Everyone thinks rates are too high and heading lower.

   

   BofA Fund Manager Survey

3. But strangely nobody wants to own the long bond.

BofA Flow Show

4. And nobody owns the other rate play… real estate.

BofA Fund Manager Survey

5. But the real trade is the AI super cycle. AI earnings grow at 19% through 2026. Rest of the market grows EPS at 6%.

Coatue

6. SaaS is so 2019. Non-AI Unicorns are struggling to raise money

Coatue

7. Tech short interest is non-existent