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Berkshire reported 2Q results this morning. As always, there's more under the hood than the reported results. A few thoughts on what is a very mixed bag. BRK is a good proxy for the US economy. The industrial economy is weak, consistent with what other companies are reporting. 1/
— Christopher Bloomstran (@ChrisBloomstran) August 5, 2023
Remarkable that the Nasdaq 100 is back to only 5% below its all-time high while ARKK remains 68% below its 2021 top (requiring > a triple to return). So profits and price matter? Consider that only 4 of ARKK’s 30 companies are profitable while only 2 of the NDX’s 100 are not. 1/ pic.twitter.com/Zghqj9xt6u
— Christopher Bloomstran (@ChrisBloomstran) July 29, 2023