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Valentin Teruggi Profile
Valentin Teruggi

@valeteru

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Economist | MBA | Business Cycles Expert | Investing is Simple But Not Easy. Podcast en ESPAÑOL: https://t.co/2erWgpMb3q

Canada
Joined April 2011
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@valeteru
Valentin Teruggi
3 months
The Roaring '20s were also based on the American dream of cheap credit and leverage. Every recession is preceded by an expansion in credit. Recessions are also part of the cycle. If you want to avoid a recession, then do not expand credit beyond the productivity rate.
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@valeteru
Valentin Teruggi
3 hours
I turned out to be right very quickly. Silver is down and oil is down. However, since the silver decline is larger, it pushed the ratio to lower levels.
@valeteru
Valentin Teruggi
1 day
I see people suggesting that oil will go up because the silver/oil ratio is the highest in history. How do you know that oil will go up and silver will not fall off the cliff? It is a ratio
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@valeteru
Valentin Teruggi
6 hours
Mmm, recession, you say? Oil doesn't lie; it's the thermostat of the global economy.
@zerohedge
zerohedge
15 hours
Brent crude is on track for a fifth monthly drop in December, the longest losing streak in more than two years.
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@valeteru
Valentin Teruggi
6 hours
But “everything’s fine”
@MacroEdgeRes
MacroEdge
10 hours
Starbucks plans to close about 400 locations, its largest closure plan on record #MacroEdge
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@valeteru
Valentin Teruggi
7 hours
The US non-farm payrolls is a coincident indicator of the real economy. It has its own cycles and has never been wrong—no false positives In my model—not just this chart—a very bad NFP number in January will push my indicators down, which could mark the beginning of a recession
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@valeteru
Valentin Teruggi
11 hours
Forward P/E valuation method: A Comforting Lie at the end of every bubble peak. How Wall Street justifies overvaluation by borrowing from the future https://t.co/H0PtoL7Xne
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@valeteru
Valentin Teruggi
23 hours
I smell a recession. March.
@JesseCohenInv
Jesse Cohen
2 days
🚨🇺🇸US SMALL COMPANIES ARE GOING BANKRUPT AT A PACE CONSISTENT WITH A RECESSION: 2,221 US INDIVIDUALS AND SMALL FIRMS HAVE FILED FOR BANKRUPTCY UNDER SUBCHAPTER V SO FAR IN 2025, THE MOST ON RECORD. Are we headed towards recession in 2026?
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@valeteru
Valentin Teruggi
1 day
Every time gold has surged over 200% in a short timeframe, it has always ended in a recession and massive disinflation or deflation. This is the exact opposite of what the mainstream suggests today, which is more inflation and a weaker USD. Stick to the data!
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@valeteru
Valentin Teruggi
1 day
I see people suggesting that oil will go up because the silver/oil ratio is the highest in history. How do you know that oil will go up and silver will not fall off the cliff? It is a ratio
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@SoloWhale589
GoSolo
1 day
biggest gold decline in history incoming astrologers are in complete agreement supercycle not until 2030+ until then, blood will flow
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@HenrikZeberg
Henrik Zeberg
5 months
@yapados18 In Deflation: USD In Inflation: Gold
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@valeteru
Valentin Teruggi
1 day
Agreed. Something is broken, similar to 2008. It ends in recession with deflation despite the rapid surge in metals.
@leadlagreport
Michael A. Gayed, CFA
2 days
In the late 1990s, fiber optics were transformational. Investors assumed infinite demand. They overbuilt. Most of it went dark. Stocks collapsed. Copper. Silver. Uranium. Same movie. New actors. This ends in deflation, not inflation. https://t.co/JXTh69lCXi
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@valeteru
Valentin Teruggi
1 day
If there is a shortage of houses in the US say, only one available to sell in the whole country. One might assume the price would be infinite due to low supply. But what if no one wants to buy the house? Regardless of supply and shortages, demand is the key.
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@valeteru
Valentin Teruggi
2 days
El carry trade japonés, su liquidez y el peligro de la compresión de tasas. https://t.co/E58yPFacYp
Tweet card summary image
open.spotify.com
Macro sin Filtro · Episode
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@Barchart
Barchart
2 days
S&P 500 Shiller PE Ratio hits 2nd highest level in history 🚨 The highest was the Dot Com Bubble 🤯
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@onechancefreedm
EndGame Macro
3 days
The Curve Has Turned And The Clock Is Running At its core, this is the yield curve…the gap between long term and short term borrowing costs. Most of the time, longer money pays more. When it doesn’t and when short term rates rise above long term ones the bond market is
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@valeteru
Valentin Teruggi
2 days
Agree. Tulips on the blockchain are still tulips. Regardless, I think it has one more leg higher!!
@FirstSquawk
First Squawk
3 days
MICHAEL BURRY OF THE BIG SHORT FAME SAID, “BITCOIN IS NOT WORTH ANYTHING. IT’S THE TULIP BULB OF OUR TIME.”
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@valeteru
Valentin Teruggi
2 days
“But this time is different as earnings quality is better.” At every bubble's end, narratives claim new tech will increase productivity. Turns out AI is just used for post-meeting summaries and to shorten text. The remaining use cases are not ready for prime time.
@MichaelMOTTCM
Michael J. Kramer
3 days
Only nine bps separate the S&P 500's dividend yield from 2000 to today.
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@TheSkayeth
Bryant
3 days
$ETH & $BMNR are about to make another BIG move. (This only happens twice a year.) How? The DSS Bressert indicator is about to cross over again. (And each time it happens, $ETH climbs 50-200%+.) This could happen in the next few weeks. Watching closely, don't miss out!
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@OVcrypto
OVcrypto
2 days
@TheShortBear Another interesting chart from Valentin below
@valeteru
Valentin Teruggi
6 days
When investors see the unemployment bottoming out and starting to rise, they are not stupid: they know something is coming and start to demand duration. Such demand pushes long-term rates below the short end, resulting in a negative spread. This has always ended in recession.
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@valeteru
Valentin Teruggi
3 days
Metals are definitely signaling something. Something is broken in the system. However, they will crash during the deflation. It has happened before, and this time won’t be different.
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