Topley’s Top 10 – June 10, 2021

1.Over the last three weeks, high short interest stocks are up 22% versus the market which is up 2%

From Dave Lutz at Jones Trading

2.Greatest Bull Markets Ever.

LPL Blog

3. Global Growth Rates Year Over Year.

Charlie Bilello


4. China vs. U.S. Non-Financial Business Debt.

The China Phenomenon:And then there is China. In dollar terms, its business debt, as the economy grew rapidly during these 15 years, multiplied by a factor of 10, from $2.5 trillion in 2005 to $25 trillion in Q4 2020. And as a percent of GDP (all in local currency), its business debt soared from an already sky-high 105% in 2002 to 161% in Q4 2020 (green line).

In 2016, China’s authorities started to attempt to deleverage their largest and most indebted nonfinancial companies, many of them state-owned or state-controlled. This included taking apart some overleveraged conglomerates. These efforts produced some results, but reversed during the pandemic. The US nonfinancial business debt-to-GDP ratio (red line) shows just how out of whack China’s business leverage is:

The Countries with the Most Monstrous Business Debts: US in 22nd Place Despite Massive Spike During the Pandemic

5. Bitcoin Returns YTD Falling in Line with Other Assets.

Bitcoin's year-to-date return is sliding below those of traditional assets

6. Inflation in Wealthier Countries The Highest Since 2008

The perfect storm making everything you need more expensiveBy Hanna ZiadyCNN Business

7. Big Tobacco Still Growing.

Big Tobacco is still… big tobacco. This week British American Tobacco reported its latest financial results, painting a rosy picture for investors with a forecast to grow its revenue by 5% this year.

Wait… tobacco is still growing?

The cigarette industry may feel a bit like its been close to being extinguished ever since the health concerns about smoking became common knowledge in the 1960s — but somehow the industry has survived, and even thrived.

BAT, for example, reported sales of £25.8bn last year ($36bn). For context, that’s more than Tesla ($31bn)adidas ($24bn) and Netflix ($25bn). The tobacco industry as a whole is expected to grow to more than $260bn a year by 2027, according to some estimates.

Although big tobacco giants remain predominantly reliant on good old fashioned cigarette sticks, they all have various bets on potential new technologies that are healthier or less toxic than traditional ciggies. BAT itself now boasts more than 13 million consumers for its “non-combustible” products, which includes vaping. The company is hoping to hit 50 million by the end of the decade. Big tobacco is not dead, far from it in fact.

8. Six Countries That Achieved Economic Growth While Reducing CO2 Emissions

Source: Our World In Data

9. CNN And MSNBC Still Mention Trump More Than Biden


Authored by Kalev Leetaru via,

Who is receiving more attention on television news since the inauguration, President Joe Biden or former president Donald Trump?

The graph below shows the total mentions of President Biden across CNN, MSNBC, Fox News and BBC News London since Biden’s inauguration day. Fox News has mentioned him the most, though even BBC News London has mentioned him nearly a third as often as CNN and MSNBC.

In contrast, the graph below shows that Fox News has covered former president Donald Trump far less than CNN or MSNBC. Look closely and you will notice that CNN and MSNBC have actually mentioned Trump more than Biden.

The graph below compares the two presidents since Biden’s inauguration, comparing mentions of Biden (blue) against Trump (orange).

On MSNBC, former president Trump has received 129% of the coverage of President Biden, followed closely by CNN’s 118%. On BBC News London, Trump has received 83% of Biden’s mentions, while on Fox News Trump has received just 55% as much coverage as Biden.

10. How To Say No To Others (And Yes To Yourself)

How To Say No

Do you have problems saying no?

I used to be really bad at saying no. Part of it was because I didn’t like to leave people in the lurch. Another part was because I didn’t want to disappoint others. There was also a part of me felt that saying no could mean burning bridges with others (a deep-set part of the Asian culture), and I didn’t want to jeopardize my relationships with others.

Hence I would say yes whenever I could, and no as infrequently as possible.

Reality of Saying Yes

While saying yes might seem like an easy way out of the conundrum above, in reality it was a terrible solution.


Because while it provided quick short-term relief — avoiding confrontation with others and dealing with uncomfortable emotions — saying yes has its own long-term implications. Because every time we say yes to something, we say no to our own priorities. Consider the following:

  • Each time you say yes to things you don’t really enjoy, you say no to the things you do enjoy.
  • Each time you say yes to things you’re not really keen about, you say no to the goals you could be working on.
  • Each time you say yes to meetups that often go nowhere, you say no to time with the people you really care about.
  • And each time you say yes to yet another favor, you say no to the things most important to you.

So when I first started my business, I said yes to almost everything. Meetups, networking sessions, pick-my-brain sessions, favors, collaborations, blog interviews, media interviews, workshops — it was a yesyesyes all the way.

This worked well for the first few years. But as my business grew, as I became more established in my field, I found myself with more requests, invitations, and demands than I could humanly fulfill. I also regularly received requests for things I didn’t really care about, from people who were proactive and aggressive in getting my time, which then constantly moved these things to the top of my list.

Suddenly, my days became filled with what others wanted from me. I found myself busy meeting people and satisfying their curiosity about what I do, but not nudging forward in the things on my list. I found myself busy doing interviews, answering emails for help, collaborating with others as a favor, agreeing to sessions to pick my brain, and doling out free advice to people’s problems, with no time for my own projects.

Soon, I became burnt out. My time was no longer my own — it was taken over by what others wanted from me. This was when I realized the importance of saying no.

Why Saying No is Important

In an ideal world, we want to say yes to everyone. But saying “yes” just to avoid conflict or disagreement isn’t the way to go. Saying no is necessary to…

  • Get things done. The reality is that all of us have limited hours a day. Unless we say no to the other things, we’ll never have time to get things done.
  • Have time for the important. There is a category of goals that are highly important but will never become urgent, called the Quadrant 2 goals. They include finding your purpose, setting your five-year vision, working on your passion, and even starting your business. Saying no is about protecting your Q2 goals and ensuring that you have time for them.
  • Set boundaries. Some people may assume that you are free all the time, that their requests are the most important, or that you should make time out for them and them only. When you don’t draw a line between your needs and others’ needs, people will keep assuming that you should give and give by default. Saying no is about setting boundaries and protecting your space.
  • Regain control of your life. Lastly, saying no is about regaining control of your life and determining what goes into your days. To reject anything that doesn’t suit your goals, that doesn’t make you happy, so that you can live the life you truly want.

At the end of the day, every “yes” comes with its costs — your time, effort, happiness, and goals. While the cost may be small for each “yes,” little trickles of wrong yes’es over long will deviate you from where you want to be. To push away all these costs, these deviations, you have to learn to say no — so that you can say yes to what you want.


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