“As shown below, in the history of US recessions (with the exception of the dot-com collapse of 2001), equity markets bottomed well before the bottom in GDP, payrolls, S&P 500 earnings and housing starts and the peak in household/corporate delinquencies. The ISM survey has been the most reliable coincident indicator of a bottom in equities“.
“Direct-to-consumer brands moved 20–30% of their marketing dollars in Q4 2022 from Meta to Amazon due to the former’s declining performance metrics for ads. The shift occurred despite a recent reluctance from DTC brand to sell products on Amazon because of limited access to and ownership of sales and customer data—but now that brands are receiving only $2 back for every $1 spent on Meta ads (they used to get $8 back), they are more willing to work with the e-commerce giant. According to Advantage Unified Commerce, an estimated 75% of brands report customer acquisition is cheaper on Amazon than other media channels.”
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“There remains significant country-level dispersion in revenue per transaction, driven by a variety of factors, including transaction pricing dynamics and payment instrument mix“
The classic annual list, 2022 edition. Eye opening as usual:
“37 per cent of the world’s population, 2.9 billion people, have never used the Internet.“
“40% of global shipping involves moving fossil and other fuels (oil, gas, wood pellets) around. More renewables (solar, wind, nuclear, geo), means fewer ships.“
“If you want a question answered on the Internet, post a wrong answer first.“
It looks at TSR (Total Shareholder Return) over a 5-year period (2013-2017) across industries.
“The median TSR of the top ten companies in each industry was higher than the industry’s median by 9 percentage points (in insurance) and 32 percentage points (in media and publishing as well as metals).“
“The lesson is this: being in a sector whose market performance is below average is no excuse. TSR is a relative—as well as an absolute—metric, so whether an industry is under pressure or accelerating, every company has the opportunity to outperform its peers.”
