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SubscribePunchline: It doesn’t have to matter… Few names in Retail offer WRBY’s TREND & TAIL idiosyncratic investment characteristics.
Please join us for a review of Chinese construction activity with Co-Director of the Stanford Center on China's Economy, Dr. Hongbin Li, this Monday, May 19th @ 2 PM ET.
Please join us for our 2Q25 Mid-Quarter Industrials Themes call today at 2PM ET!
Please join us for an important update of the freight market with FreightWaves CEO Craig Fuller next Friday, May 16th at 12:30pm EST! The April 2nd Trump Administration China tariff announcements are just now beginning to ripple down the supply chains, with West Coast ports bracing for volume declines following anticipatory pre-stocking. The removal of the de minimis exemption that formerly applied to imports from China valued under $800 will further impact transport volumes, lane density, and freight pricing. When considering these developments, FreightWaves provides unique data sets with near-real-time intelligence on logistics markets.
We think the Street narrative on WRBY's impact from tariffs is completely overblown... We walk through our supporting math below.
Please join us for a call with microplastics expert Dr. Tracey Woodruff as we explore the potential liability and blowback for exposed companies this Thursday, May 1st at 4 PM EST!
Ryder remains a top short idea; despite underperforming year-to-date, we continue to see significant downside. The latest earnings release raises fresh concerns heading into a very difficult period for freight volumes and used tractor/truck values. A key problem is the repetition of this being a “different” company from the 2018 peak meets some difficult non-accrual accounting realities. The impact of tariffs on freight volumes, the likely withdrawal of EPA 2027, and the dependence of the Ryder long thesis on an accounting fiction staying above the used truck market despite a business that is supposed to not be dependent on a used truck market suggest longs are in a dubious situation. We still see the risk-reward heavily skewed to the downside.
Please join us for a deep dive on gold investing with McAlvany Precious Metals CEO, David McAlvany today at 2pm EST! Gold continues to notch nominal all-time highs in a rally that, until recently, was driven largely by persistent, inelastic central bank demand. A weakening dollar, escalating geopolitical tensions, rising retail interest, and the prospect of rate cuts have presumably supported that momentum. Global confidence in U.S. dollar assets has apparently eroded, allowing gold – the ultimate flight to safety – greater prominence in the international financial system.
Key Conclusions and Call Details for our 12:30pm ET Call Tomorrow
How will tariffs impact key Materials sector end-markets like autos, construction, and manufacturing? We’ll look at where we see the best opportunities, catalysts, and dislocations in this chaotic market set-up. We’ll explore these issues, and more, in our 2Q25 Materials Themes call this Tuesday, April 15th, at 2PM ET!