Taking whimsical stream-of-consciousness financial commentary to levels even Aleksandar Kocic would blush, overnight BofA CIO Michael Hartnett has released a report titled "The Hitchhiker’s Guide to the Investment Universe"...
... which, to the delight of Douglas Adams fans everywhere, covers "Wall St Life, the Universe and Everything."
Hartnett's report is a primer for retail & institutional investors on the size, composition, performance, risks, fund flows, yields, and valuations of the bond & equity universe.
Of course, there are exactly “42” charts & tables in the report, which illustrate Wall Street’s huge bull run, the “great corporate rotation”, credit’s inflection point, the multi-year decoupling of US assets, tech’s leadership & vulnerability, and the shift to late-cycle returns in 2018.
For the sake of brevity, we will focus only on the 20 "don't panic" must-know stats for investors highlighted by Bank of America:
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