Category Archives: Daily Top Ten

TOPLEY’S TOP 10 April 25, 2025

1. JP Morgan Globalization—The Bank Moves $10 Trillion Daily Across 160+ Countries in 120 Currencies

From WSJ: How Long Will Big U.S. Banks Lead-

Stockcharts


2. Japanese Stocks and Bonds Biggest Monthly Inflow on Record

Bloomberg


3. Japan Stock ETF Sideways Pattern…Looking for Breakout

StockCharts


4. Year to Date Fund Flows Robust

Equities: Fund inflows have been robust year-to-date.

The Daily Shot


5. Volatility Crash…VIX $60 to $27

StockCharts


6. Existing Home Sales Back to 2010 Levels

Wolf Street


7. Share of Wealth Owned by Top 10%

The Irrelevant Investor


8. 59% of Venture Dollars Q1 Went to AI

PitchBook


9. Top Donors 2024 Presidential Campaign

Voronoi


10. Latin American Poverty

Voronoi

TOPLEY’S TOP 10 April 24, 2025

1. The Q1 2025 Letter

My Q1 breakdown of the emerging opportunities, overlooked market inefficiencies, and key strategic shifts most investors didn’t see coming. Read it here.


2. China Large Cap Stocks Nowhere for 17 Years

Google Finance


3. China Pulling Private Investments in U.S.

The Kobeissi Letter


4. Gold Trading at 100x Silver

Bespoke


5. IWM Russell 2000 Small Cap Bullish Triangle

StockCharts


6. S&P Underperforming MSCI All World by Most in 32 Years

Lisa Abramowicz


7. MBA Mortgage Applications Falling

Barchart


8. Argentina Driving Free Trade.Imports Increased by 42%…Exports 10%

Perplexity


9. Generic Drugs 90% of Prescriptions in America

Sherwood


10. Work Ethic vs Discipline

Via Seth Godin: A solid work ethic drives someone to show up, even when they’d rather not. If there’s work on their desk, they’ll take it on.

Discipline, on the other hand, is the ability to say ‘no’ to free up focus and resources for the work that’s worth saying ‘yes’ to.

TOPLEY’S TOP 10 April 23, 2025

1. U.S. Dollar Positive Yesterday…Due for Bounce

‘Sell America’ gathers steam. The dollar plunged to a three-year low, as a US trade war and threats against the Federal Reserve drove “Sell America” trades. President Donald Trump’s renewed push to fire the Fed chair, in particular, has undermined the haven status of US assets, resulting in a combined stock, currency, and bond weakness not seen since 1981, according to Sherwood News. Pension funds worldwide are reassessing whether to keep betting on the US, while Chinese state investors are pulling back from US private equity. Traders have flocked to gold, which hit a fresh record Monday, as well as German bonds. The “exorbitant privilege of the US,” Commerzbank’s chair said, “may not be carved in stone.”

Semafor


2. Gold ETF Flows Hit Record Level

Macro Charts


3. Swiss Franc Safety Currency Rallies to New Highs vs. Dollar Sell Off

StockCharts


4. Japanese Yen Rally

StockCharts


5. Dow Jones 50-day thru 200-day to Downside…Not Sure of History

StockCharts


6. Growth Vs. Value 2025

Robertson Stephens


7. Ethereum Bounce Yesterday…Hit Lowest Valuation in History vs. Bitcoin

Barchart


8. Ex-US Stocks See Record Volatility…ACWX Did Not Make New Highs on International Rally

From Nasdaq Dorsey Wright: International equities have held up better than US stocks during the most recent bout of global uncertainty. The iShares MSCI ACWI ex US Index ETF (ACWX) fell into correction territory on April 4 with a 10% decline from its most recent high on March 19. The fund ultimately bottomed out 13.8% below that high on April 8. Over the next couple of weeks, ACWX advanced sharply to notch a 10% rally last Thursday, April 17, officially moving the fund out of correction territory.

The 20-day peak-to-trough move for ACWX was the shortest correction the broad international fund has seen since 2009, spanning less time than the previous 18 corrections. The nine-day rally was also the quickest ascent we have seen since 2011, outside of the two-day rally during COVID that saw ACWX climb out of correction territory in record time. Meanwhile, US stocks still sit in correction territory, despite the 9.5% upside movement seen from the S&P 500 Index (SPX) on April 9, the day after the recent low.

Voronoi


9. More Take Private Deals than IPOs

Private equity capitalized on take-private opportunities in the first quarter of 2025 as the market grappled with the new reality of tariffs and prolonged uncertainty around deals.

Take-private deal value increased 24.6% quarter-over-quarter, according to PitchBook’s Q1 2025 US PE Breakdown, with one big deal driving much of the action.

That prominent deal occurred in March, when consumer retail sector-focused investor Sycamore Partners acquired Walgreens in a transaction valued at $23.7 billion, the largest PE-backed take-private transaction over the last two years.

PitchBook


10. The History of University Research Funding

Daniel G. Amen

TOPLEY’S TOP 10 April 22, 2025

1. U.S. Stocks Spend 30% of the Time in Correction Territory

Vanguard


2. Microcap Stocks -20% 2025—Held Above 2023 Lows

StockCharts


3. Rolling 3 Month S&P vs. EFA (Developed International). Rare Territory 16% Spread Positive to EFA in 3 months

Nasdaq Dorsey Wright


4. During this 3 Months of International Outperformance….U.S. Dollar -9%

StockCharts


5. 31% of S&P Reports Earnings this Week

Via Zero Hedge


6. Price to Earnings Multiple Compression in Mag 7…Before Yesterday

Charlie Bilello


7. Tesla Earnings Today After the Close….-40% 2025 Prior to Announcement

Google


8. Exports Lead by China

Voronoi


9. China: Lender to World

Voronoi


10. Excess Sugar=Inflammation

Daniel G. Amen

TOPLEY’S TOP 10 April 21, 2025

1. Retail Investors Keep on Buying thru Pullback

Through all this volatility, retail investors continue to buy the dip. They have not let up on buying.

Josh Schafer


2. New Highs in Account Openings at Interactive Brokers

March saw a record high in new account openings for Interactive Brokers. To be fair, maybe some of this was people opening accounts to try and short the market…

FinChat


3. China Central Bank Five Straight Months of Gold Buying

The Kobeissi Letter


4. How the Latest Sell-Off has Impacted the United States’ Share of Global Market Cap

Bespoke


5. Private Equity Stocks Down Double the S&P

Abnormal Returns


6. Miami Housing Correction

Nick Gerli


7. China Manufacturing Contracting Since 2015

China’s labour-intensive manufacturing sectors have seen broad-based declines in employment since around 2015, with textiles, clothing, and fur products experiencing the steepest drops.

Financial Times


8. Government Funding of Universities

Barron’s


9.  Confidence in American Political Parties

Gallup


10. Earnings to Achieve Middle Class in Each American State

Visual Capitalist