The one-page fundamentals report for every US stock

Impact 4 · 18 Oct, 9:04 AM

Michael Burry warns that despite the S&P 500 hitting a record, breadth has deteriorated: 55% of S&P 500 stocks are at least 20% below their 10-year highs as of Oct. 6, up from 47% on Aug. 13. He notes only two prior four-decade instances of new highs with most stocks in bear markets: 2000 and today. His analysis shows a narrow leadership, with only 15 stocks hitting new highs and 97 within 10% of a high, suggesting a fragile index pulled by a small group of leaders. Burry compares current conditions to 2000 but believes the exact outcome may differ; he warns that if momentum persists, the market could move toward a 2000-like reckoning within months or drift lower as fundamentals reassert themselves amid AI narratives.

Impact 4 · 18 Oct, 5:56 AM

Microsoft pulled out of a planned UK data centre deal with Nscale, potentially complicating the tech giant’s IPO plans. The Loughton, Essex project faced electricity-supply delays, with authorities suggesting a grid connection might not arrive until the 2030s. Nscale’s flagship Norway site is also behind schedule, with only 6.4 MW of its 30 MW capacity online. Nscale eyes a possible up to $3 billion IPO as early as October, but Microsoft and Anthropic account for about 85% of its contracts, underscoring reliance on large tech customers. Losing Microsoft as an anchor tenant could hinder expansion and invite investor scrutiny. Nscale says it remains committed to Loughton and is exploring power alternatives and UK opportunities; Microsoft has not commented. The events reflect growing financing and execution risks in AI infrastructure.

Impact 4 · 18 Oct, 5:50 AM

Alphabet could potentially double by 2030 driven by AI expansion across Google Cloud, Gemini, and other AI-enabled products, with Google Cloud growth accelerating (backlog of $514B suggesting multi-year revenue gains), Gemini usage increasing engagement, and Waymo offering upside as a wildcard; valuation remains supported by margins and potential high-impact AI deployments, though profitability timelines for some initiatives remain unclear and investor consensus varies.

Impact 4 · 18 Oct, 5:13 AM

Michael Burry warns of a long-lasting bear market, arguing that market breadth is narrowing even as the S&P 500 hits new highs, with fewer stocks driving up the index. His analysis leans on inflation-adjusted history, noting past downturns were severe but often followed by extended wait periods for real returns. He highlights light volume, fading breadth, and elevated valuations as signs of potential trouble, drawing parallels to 2000 and 2008 denial phases. The piece also notes broader bearish calls in the market, a 5,000-point S&P target for 2027 by Panmure Liberum, and the idea that a prolonged period of weak real returns could test crypto proponents’ claims of decoupling, including Bitcoin. The overall message: investors should brace for a multi-year stretch of subdued real gains rather than quick recoveries.