# ![@mark_ledain Avatar](https://lunarcrush.com/gi/w:26/cr:twitter::3154272325.png) @mark_ledain Mark Le Dain

Mark Le Dain posts on X about inflation, canada, stocks, money the most. They currently have [-----] followers and [----] posts still getting attention that total [---] engagements in the last [--] hours.

### Engagements: [---] [#](/creator/twitter::3154272325/interactions)
![Engagements Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::3154272325/c:line/m:interactions.svg)

- [--] Week [-------] +504%
- [--] Month [-------] +537%
- [--] Months [-------] -2.70%
- [--] Year [---------] -74%

### Mentions: [--] [#](/creator/twitter::3154272325/posts_active)
![Mentions Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::3154272325/c:line/m:posts_active.svg)

- [--] Week [--] +31%
- [--] Month [---] +148%
- [--] Months [---] +278%
- [--] Year [-----] +30%

### Followers: [-----] [#](/creator/twitter::3154272325/followers)
![Followers Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::3154272325/c:line/m:followers.svg)

- [--] Week [-----] +0.15%
- [--] Month [-----] +1.30%
- [--] Months [-----] +6.40%
- [--] Year [-----] +24%

### CreatorRank: [---------] [#](/creator/twitter::3154272325/influencer_rank)
![CreatorRank Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::3154272325/c:line/m:influencer_rank.svg)

### Social Influence

**Social category influence**
[finance](/list/finance)  [stocks](/list/stocks)  [countries](/list/countries)  [technology brands](/list/technology-brands)  [cryptocurrencies](/list/cryptocurrencies)  [currencies](/list/currencies)  [social networks](/list/social-networks)  [automotive brands](/list/automotive-brands)  [celebrities](/list/celebrities)  [musicians](/list/musicians) 

**Social topic influence**
[inflation](/topic/inflation), [canada](/topic/canada), [stocks](/topic/stocks), [money](/topic/money), [$tlt](/topic/$tlt), [debt](/topic/debt), [countries](/topic/countries), [china](/topic/china), [ai](/topic/ai), [rates](/topic/rates)

**Top accounts mentioned or mentioned by**
[@unusualwhales](/creator/undefined) [@marketplunger1](/creator/undefined) [@leadlagreport](/creator/undefined) [@stevesaretsky](/creator/undefined) [@zerohedge](/creator/undefined) [@fibonacciinves1](/creator/undefined) [@kobeissiletter](/creator/undefined) [@northmantrader](/creator/undefined) [@danielfoch](/creator/undefined) [@lukegromen](/creator/undefined) [@donmiami3](/creator/undefined) [@macroedgeres](/creator/undefined) [@thestalwart](/creator/undefined) [@bobeunlimited](/creator/undefined) [@mrderivatives](/creator/undefined) [@barchart](/creator/undefined) [@burggrabenh](/creator/undefined) [@trendbullish](/creator/undefined) [@tablesalt13](/creator/undefined) [@stealthqe4](/creator/undefined)

**Top assets mentioned**
[PayPal Holdings Inc (PYPL)](/topic/$pypl) [Adobe, Inc. (ADBE)](/topic/$adbe) [Barrick Gold Corp. (GOLD)](/topic/$gold) [SPDR S&P [---] ETF Trust (SPY)](/topic/$spy) [Hudbay Minerals Inc. (HBM)](/topic/$hbm) [NVIDIA Corp. (NVDA)](/topic/$nvda) [Algonquin Power & Utilities Corp (AQN)](/topic/$aqn) [Alphabet Inc Class A (GOOGL)](/topic/$goog) [SPDR GOLD ETF (GLD)](/topic/$gld) [BCE, Inc. (BCE)](/topic/$bce) [American Coin (USA)](/topic/$usa) [4 (FOUR)](/topic/$four) [Lunyr (LUN)](/topic/$lun) [TC Energy Corporation (TRP)](/topic/$trp) [Teck Resources Limited (TECK)](/topic/$teck) [Fartcoin (FARTCOIN)](/topic/fartcoin) [Arbidex (ABX)](/topic/$abx) [EQIFi (EQX)](/topic/$eqx) [Now Coin (NOW)](/topic/$now) [Suncor Energy, Inc. (SU)](/topic/$su) [Canadian Natural Resources Limited (CNQ)](/topic/$cnq) [Metadium (META)](/topic/$meta) [Cenovus Energy Inc. (CVE)](/topic/$cve) [AT&T Inc. (T)](/topic/$t) [FORTUNA Silver Mines Inc. (FSM)](/topic/$fsm) [VALE S.A. (VALE)](/topic/$vale) [Adappter Token (ADP)](/topic/$adp) [Amazon.com, Inc. (AMZN)](/topic/$amzn) [Newmont Corporation (NEM)](/topic/$nem) [UnitedHealth Group (UNH)](/topic/$unh) [Microsoft Corp. (MSFT)](/topic/$msft) [apM Coin (APM)](/topic/$apm) [Bitcoin (BTC)](/topic/bitcoin) [NextEra Energy Inc (NEE)](/topic/$nee) [Chipotle Mexican Grill, Inc. (CMG)](/topic/$cmg) [Novo-Nordisk (NVO)](/topic/$nvo) [Trade Desk, Inc. (TTD)](/topic/$ttd)
### Top Social Posts
Top posts by engagements in the last [--] hours

"Any other names similar to Lundin $LUN that have broad base metals exposure and dispersed geographical risk Seems as if you have china loosening in the near term with green metals demand right on the back of it supporting the thesis"  
[X Link](https://x.com/mark_ledain/status/1614264950549278721)  2023-01-14T14:15Z [----] followers, [---] engagements


"I can think of several energy companies that would love these buyout multiples Slowly doing it themselves through buybacks $PXT $TCW $SU"  
[X Link](https://x.com/mark_ledain/status/1646182044127617025)  2023-04-12T16:02Z [----] followers, [---] engagements


"@BurggrabenH $vet feels as if its still cheap as people start to digest the balance impact from this"  
[X Link](https://x.com/mark_ledain/status/1669344827249688576)  2023-06-15T14:03Z [---] followers, [--] engagements


"@unusual_whales Inflation will not end until the Taylor Swift tour is over. Nothing more inflationary than someones significant other asking why another couple is going and not them"  
[X Link](https://x.com/mark_ledain/status/1673315128266362882)  2023-06-26T13:00Z [---] followers, [----] engagements


"@JustineBateman @USATODAY The annotation jobs for everything from poetry to Human Resources is pretty wild when you think about it. Just people working hard to train AI tools to replace them. Its like crossing a virtual picket line to some"  
[X Link](https://x.com/mark_ledain/status/1678213204327931905)  2023-07-10T01:23Z [---] followers, [---] engagements


"The way talent or knowledge compounds in a team always seems to be underestimated when talking about retention Still feels almost like a carryover of when jobs were less complex/interconnected"  
[X Link](https://x.com/mark_ledain/status/1678613781910552576)  2023-07-11T03:55Z [---] followers, [--] engagements


"@globeandmail Countries leaving and then rejoining the UNESCO heritage organization is a funny dynamic. Do they just make all the changes during those years away We were on a break"  
[X Link](https://x.com/mark_ledain/status/1678819048791117824)  2023-07-11T17:32Z [---] followers, [--] engagements


"In Q1 the wealth gap in Canada between the top 20% of earners and the bottom 40% widened at the fastest pace on record. For many it is a no win situation. Inflation is high enough to increase the cost of living while rates are at a level that greatly reduces disposable income"  
[X Link](https://x.com/mark_ledain/status/1679517555638304769)  2023-07-13T16:19Z [---] followers, [--] engagements


"@riteshmjn The other argument you often see for this is that countries with rates approaching the zero bound have historically been surprised to find themselves worrying more about deflation during those periods"  
[X Link](https://x.com/mark_ledain/status/1688737765591220225)  2023-08-08T02:23Z [---] followers, [--] engagements


"A lot of major banks still don't show customers the interest rate on their savings in a visible/transparent way If the simple tech is preventing this that is scary. If the desire is to make it less clear that is also scary. Neither good for the consumer"  
[X Link](https://x.com/mark_ledain/status/1688993367122743296)  2023-08-08T19:19Z [---] followers, [--] engagements


"@BloombergTV At some point you have to expect China to export this deflation globally given interconnected supply chains. Only counter would be if reshoring is enough of a trend that drives inflation"  
[X Link](https://x.com/mark_ledain/status/1690424453992525825)  2023-08-12T18:06Z [---] followers, [--] engagements


"@marketplunger1 Pipelines are looking cheap - they declined on rates and ESG concerns. ESG concerns will be a tailwind though as it prevents new entrants upside flows to incumbents and it prevents the industry from overbuilding. Somewhat similar to when everyone realized rail was great"  
[X Link](https://x.com/mark_ledain/status/1690754821585010688)  2023-08-13T15:58Z [---] followers, [--] engagements


"@PauloMacro How do you think about the risk that China exports deflation I generally think there are structural inflation trends like ESG fiscal spending but China could be a large deflationary force"  
[X Link](https://x.com/mark_ledain/status/1691467567289044993)  2023-08-15T15:11Z [---] followers, [---] engagements


"@globeandmail Canada imports a significant amount of inflation with a weak currency because major sectors dont attract the international investment they once did and there is less demand for the currency"  
[X Link](https://x.com/mark_ledain/status/1691967724115870013)  2023-08-17T00:18Z [---] followers, [----] engagements


"@zerohedge Entire question for the market right now seems to be whether people believe China or not when they promise to make changes and still meet annual growth targets. Historically theyve stimulated successfully but that pushed debt to the government level where its tougher to solve"  
[X Link](https://x.com/mark_ledain/status/1692287131388108882)  2023-08-17T21:27Z [---] followers, [----] engagements


"@unusual_whales I hope there is some financial analyst somewhere predicting the onset of deflation only when this tour ends"  
[X Link](https://x.com/mark_ledain/status/1692303845106565493)  2023-08-17T22:34Z [---] followers, [---] engagements


"@Silver_Gold_U Whats the general view on Andean $APM Seems like it has positive working cap of $90 million and market cap of only $100 with torque to silver at a critical time When I see something like this it is undervalued or there is something awful I dont understand. Dont know which"  
[X Link](https://x.com/mark_ledain/status/1692879601834598782)  2023-08-19T12:42Z [---] followers, [---] engagements


"@BeegJj It will be interesting to see if refineries experience some of the same beneficial dynamics that rails did where regulations/costs make it almost impossible to build new competing assets and they get to capture outsized returns. ESG actually becomes a tailwind in this case"  
[X Link](https://x.com/mark_ledain/status/1692947567972413570)  2023-08-19T17:12Z [---] followers, [--] engagements


"@michaelxpettis China oil demand hasnt been great but when you think how bad their economy has been doing it hasnt been terrible. If they stimulate aggressively it could be a rail tailwind for oil"  
[X Link](https://x.com/mark_ledain/status/1693334206439706871)  2023-08-20T18:48Z [---] followers, [---] engagements


"@lisaabramowicz1 Tough to figure out what does well here. Commodity industries have a higher return in high cost of capital periods - combined with funds flow looking for inflation protection thats one sector that could do well. ESG also provides a tailwind for incumbents for better or worse"  
[X Link](https://x.com/mark_ledain/status/1694098066058743854)  2023-08-22T21:23Z [---] followers, [----] engagements


"@lisaabramowicz1 Interesting to see the impressive restraint around stimulus. Seems a little risky given a large unemployed youth population. Typically countries try not to have youth worried about their prospects with time on their hands for too long"  
[X Link](https://x.com/mark_ledain/status/1695189960515801296)  2023-08-25T21:42Z [---] followers, [---] engagements


"@Noellenarwhal @CircaLiz @daniel_foch Its a good question. The timing mismatch is very difficult for owners. I.e. leases are often staggered so they can have low occupancy but no ability to change the building without a cost as there are current leases. Government support helps - Calgary has the most robust program"  
[X Link](https://x.com/mark_ledain/status/1695198562873716851)  2023-08-25T22:16Z [---] followers, [--] engagements


"@trend_bullish @allstarcharts Would have been interesting to see gold and silver finally break out. Mining is a pretty large tailwind for oil demand"  
[X Link](https://x.com/mark_ledain/status/1695437173330514412)  2023-08-26T14:04Z [---] followers, [--] engagements


"@gunsnrosesgirl3 Those things are crazy smart. Let us know if it shared any stock picks"  
[X Link](https://x.com/mark_ledain/status/1695479929188794729)  2023-08-26T16:54Z [---] followers, [---] engagements


"@michaelxpettis Interesting article. With the current reduced economic growth in China and the stickiness of supply chains you could actually see this result in some exported deflation which would help cap a secondary inflation wave"  
[X Link](https://x.com/mark_ledain/status/1695792096589090859)  2023-08-27T13:35Z [---] followers, [--] engagements


"@Wealth_Pill Deep Survival is a great one. Teaches you a lot of mental biases that can get you killed. At the very least the stories are interesting - if it saves your life that seems like an added bonus"  
[X Link](https://x.com/mark_ledain/status/1696010030267720119)  2023-08-28T04:01Z [---] followers, [---] engagements


"@ronmortgageguy High home prices suck up useful capital and constrain entrepreneurship in Canada as it makes it extremely difficult to take risks. People always wonder why Canadian innovation numbers lag the US so significantly and this is a key reason"  
[X Link](https://x.com/mark_ledain/status/1696184358477164849)  2023-08-28T15:33Z [---] followers, [----] engagements


"@BobLoukas That would be a strong tailwind for commodities in an already tight market"  
[X Link](https://x.com/mark_ledain/status/1696634284906553656)  2023-08-29T21:21Z [----] followers, [---] engagements


"@rowancheung Hope the robots still stitch us up after instantly reading all our tweets"  
[X Link](https://x.com/mark_ledain/status/1696707186398003616)  2023-08-30T02:11Z [----] followers, [---] engagements


"@menlobear @LukeGromen Will be interesting to see if oil producers benefit from funds flow hedging against this event. Provides energy exposure to reduce the impact of a second bout of inflation and a declining USD would be an additional tailwind for commodities"  
[X Link](https://x.com/mark_ledain/status/1696999844269969848)  2023-08-30T21:34Z [---] followers, [--] engagements


"@buccocapital It will definitely be a tailwind for some firms where this is their only major expense. It also slows salary growth as well since competitors arent competing for the same talent at the previous pace"  
[X Link](https://x.com/mark_ledain/status/1697434901543625098)  2023-09-01T02:23Z [---] followers, [---] engagements


"@leadlagreport Governments trying to fight inflation with rates instead of also incentivizing energy investment is dangerous. For a decade we benefited from shale as a deflationary force. Now we have the most restrictive environment for energy projects (both renewable and fossil fuels)"  
[X Link](https://x.com/mark_ledain/status/1697641170422341828)  2023-09-01T16:02Z [---] followers, [----] engagements


"@SteveSaretsky Scary with the lag effects. In Canada you also see a steady impact from the higher mortgage rates on consumption given shorter renewal terms than the US. The longer US mortgage terms can typically bridge a few cycles by comparison"  
[X Link](https://x.com/mark_ledain/status/1697649188295815550)  2023-09-01T16:34Z [---] followers, [----] engagements


"@thejustinwelsh This was such a common but under appreciated move for so many empire builders over the past century Siggi Wilzig created a banking empire and was known for personally making a few clients feel special ever day - counting on them telling multiple friends monthly over decades"  
[X Link](https://x.com/mark_ledain/status/1698517674177732892)  2023-09-04T02:05Z [---] followers, [---] engagements


"@Tablesalt13 Will be interesting to see if some Canadian funds and wealthy investors start to allocate more to Canadian commodity producers (oil mining etc). They hedge against inflation and a weak loonie from a poor economy actually becomes a tailwind for these names"  
[X Link](https://x.com/mark_ledain/status/1698756119936770390)  2023-09-04T17:53Z [----] followers, [----] engagements


"@TaviCosta The funds flow dynamics should create a compounding tailwind this fall. As inflation climbs investors will want more exposure to energy as a hedge and then as energy outperforms they wont want to miss out on the leading cycle from a performance standpoint"  
[X Link](https://x.com/mark_ledain/status/1698765315298242634)  2023-09-04T18:29Z [---] followers, [----] engagements


"@unusual_whales Increased gambling and the meme stock trend is a natural response to the current cost-of-living crisis. If you are young and don't see a path to save for a home and don't believe that banks or advisors can assist you in getting there then you are more likely to take risks"  
[X Link](https://x.com/mark_ledain/status/1698820463760486459)  2023-09-04T22:08Z [---] followers, [----] engagements


"@DeItaone Im so worried some Canada bankers have read this and thats why Canada keeps increasing shelter costs in the inflation fight"  
[X Link](https://x.com/mark_ledain/status/1699139112132043008)  2023-09-05T19:15Z [---] followers, [---] engagements


"@TrungTPhan Shaq is so lucky that hes never overheard me talking about my terrible stock picks"  
[X Link](https://x.com/mark_ledain/status/1699287420473344400)  2023-09-06T05:04Z [---] followers, [----] engagements


"@TaviCosta Massive reshoring with a lot of industry moving out of Europe due to energy costs is one of the tailwinds that has kept the US out of a recession so far this year"  
[X Link](https://x.com/mark_ledain/status/1699847150459580843)  2023-09-07T18:08Z [---] followers, [---] engagements


"@leadlagreport Only thing that could constrain the treasury trade this fall as economic data worsens is that energy investment has never been this constrained (for all types). Shale was a deflationary tailwind for treasuries. Now we could have inflation settle higher with energy constraints"  
[X Link](https://x.com/mark_ledain/status/1699851258696462586)  2023-09-07T18:24Z [---] followers, [---] engagements


"@KEDM_COM Pipelines are interesting $TRP $ENB through YE. They are heavily contracted and if rates fall they get a bit of a funds flow tailwind with sustainable dividends above 7%. If rates dont fall it probably means energy costs remained high so they probably get energy funds flow"  
[X Link](https://x.com/mark_ledain/status/1699924235739935037)  2023-09-07T23:14Z [---] followers, [---] engagements


"@SteveSaretsky Two big blind spots for Canadian unemployment data that make it look more robust. Massive student population as a % vs other countries that doesnt get counted. Many need jobs now or shortly given costs. Many Canadians got two jobs to service debt making hiring look robust"  
[X Link](https://x.com/mark_ledain/status/1700203910978482574)  2023-09-08T17:46Z [---] followers, [---] engagements


"@Barchart Interesting thing about portfolio losses amongst U.S. banks is new regulations post GFC required them to hold a certain amount of these instruments. That combined with teams getting too comfortable with low rates for longer is resulting in larger losses than other cycles"  
[X Link](https://x.com/mark_ledain/status/1700225019538977141)  2023-09-08T19:10Z [---] followers, [---] engagements


"@BillDA AI will be big tailwind for small business in that it provides an interface for businesses to access regular software tools (booking etc.) at scale. Previous solutions werent designed for many markets due to size. I.e. almost all businesses should have time based pricing"  
[X Link](https://x.com/mark_ledain/status/1700227676685087075)  2023-09-08T19:20Z [---] followers, [---] engagements


"@WarrenPies This is definitely true. Im always surprised given this that regimes dont have more accommodative energy policy. Even renewable projects are facing significant permitting delays and rate impacts. Cheap energy was a tailwind for a decade and everyone seems to have forgotten"  
[X Link](https://x.com/anyuser/status/1700234892414747034)  2023-09-08T19:49Z [--] followers, [---] engagements


"@BobEUnlimited Reshoring is a big industrial tailwind for North America this decade and has helped put off a recession. Reshoring out of Asia somewhat due to politics and dependencies and out of Europe largely due to energy costs"  
[X Link](https://x.com/mark_ledain/status/1700239899222540622)  2023-09-08T20:09Z [---] followers, [----] engagements


"@LukeGromen One of the reasons the long bond trade likely hasnt performed as well as expected is because energy inflation is sticky. Oil and gas projects and renewable projects as well are all facing restrictions. SPR policy further restricted investment by masking price signals"  
[X Link](https://x.com/mark_ledain/status/1700947661560709338)  2023-09-10T19:01Z [---] followers, [--] engagements


"@Investmentkage Will be interesting to see if more retail does membership access cards etc. both for loyalty but also to reduce the heightened levels of theft currently pressuring margins"  
[X Link](https://x.com/mark_ledain/status/1700954785875439882)  2023-09-10T19:29Z [---] followers, [---] engagements


"@TheAlphaThought Will be interesting to see if all the dividend funds/strategies start to focus on the energy sector $SU $WCP $CNQ $TOU Most of those strategies have a requirement to be invested in names where the dividend has been growing recently eliminating several utility and reit options"  
[X Link](https://x.com/mark_ledain/status/1700956311440240775)  2023-09-10T19:36Z [---] followers, [--] engagements


"@rohde88 There are a lot of REITs that have sold off heavily on rate increases and CRE fears but have massive industrial properties that are only increasing in value. A lot of gems if people are willing to do the work"  
[X Link](https://x.com/mark_ledain/status/1701273701025718326)  2023-09-11T16:37Z [---] followers, [--] engagements


"@SteveSaretsky Rents are definitely too high for Canadians but at the same time I never understand how jurisdictions can see expenses transparent ones like property tax that are government controlled increasing at a faster rate than the allowable rent increase. You end up with less supply"  
[X Link](https://x.com/mark_ledain/status/1701304430107435357)  2023-09-11T18:39Z [---] followers, [----] engagements


"@j94_pa @SteveSaretsky Definitely. Property taxes are very low in Canada (comparatively) which made the housing bubble worse - reduced carry costs for investors/speculators. At the same time there is no new supply cause LLs now face high rates capped rents and catch-up on taxes. Tough all around"  
[X Link](https://x.com/mark_ledain/status/1701386005130215424)  2023-09-12T00:03Z [----] followers, [---] engagements


"@jesse_kleine During the 1970s inflation cycle it was energy stocks and REITs that outperformed. A lot of the REIT outperformance though was different than this cycle as rent caps were less prevalent in North America at that point"  
[X Link](https://x.com/mark_ledain/status/1701427005588455806)  2023-09-12T02:46Z [---] followers, [---] engagements


"If you ever think your customer incentives are too transparent and they need to be fancy just remember that the founder of Home Depot handed out bills to people that went into the store. Those were some of the first steps for one of the greatest wealth creation stories ever"  
[X Link](https://x.com/anyuser/status/1701644425808732395)  2023-09-12T17:10Z [--] followers, [--] engagements


"@daniel_foch Countries that can be energy secure should try fighting inflation exclusively by incentivizing or even simply permitting increased energy supply"  
[X Link](https://x.com/mark_ledain/status/1701704647973736528)  2023-09-12T21:09Z [---] followers, [---] engagements


"@KobeissiLetter There is an interesting demographics tailwind here. Boomers have retired and already planned to spend - its not as if they would postpone trips because they are worried they will be fired (they dont work anymore). Millennials is the other large wedge that spends no matter what"  
[X Link](https://x.com/mark_ledain/status/1701729153224196397)  2023-09-12T22:47Z [---] followers, [----] engagements


"@DonMiami3 Thats a lot of exits last few weeks. What is the typical delay for this to hit car prices"  
[X Link](https://x.com/mark_ledain/status/1702753676102869426)  2023-09-15T18:38Z [---] followers, [---] engagements


"@ChrisJBakke Im so worried most of my investments are just cake"  
[X Link](https://x.com/mark_ledain/status/1702755721618808898)  2023-09-15T18:46Z [---] followers, [----] engagements


"Alberta and Calgary are looking great lately If youre interested in the #fintech roles we are hiring for here send me a note"  
[X Link](https://x.com/mark_ledain/status/1703455660690780486)  2023-09-17T17:07Z [---] followers, [--] engagements


"@dougboneparth Losing money in stocks is the hobby I seem to have chosen"  
[X Link](https://x.com/mark_ledain/status/1703461351639917009)  2023-09-17T17:30Z [---] followers, [--] engagements


"I have never come across a company that thrives under a luxury loving owner - Founder of Hyundai If you ever see your CEO pick up the biography of the Hyundai founder it means you are one week away from losing some office perks"  
[X Link](https://x.com/mark_ledain/status/1703628971462795519)  2023-09-18T04:36Z [---] followers, [--] engagements


"@StephenPunwasi The formula for unproductive speculation is low carrying costs (Canada has this for housing with minimal property taxes for example) and low rates"  
[X Link](https://x.com/mark_ledain/status/1703812082205167721)  2023-09-18T16:43Z [---] followers, [----] engagements


"@Rainmaker1973 Wow they somehow managed to get a video of me doubling down on my losing stocks"  
[X Link](https://x.com/mark_ledain/status/1703968237996974082)  2023-09-19T03:04Z [---] followers, [---] engagements


"@StockMKTNewz Would be interesting if Canada as a country becomes more pro energy development (of all types) when inflation is crushing the housing market and could be reduced significantly with cheaper energy"  
[X Link](https://x.com/mark_ledain/status/1704146287669678190)  2023-09-19T14:51Z [---] followers, [---] engagements


"@HFI_Research Someone tell the energy stocks please"  
[X Link](https://x.com/mark_ledain/status/1704199742211948748)  2023-09-19T18:24Z [---] followers, [---] engagements


"@LanceRoberts Is this only buying of new issuances ony Or does it accidentally capture people buying the treasuries that China and Saudi are selling down This would create more volume this year despite bearish flows"  
[X Link](https://x.com/mark_ledain/status/1704216261796974843)  2023-09-19T19:29Z [---] followers, [--] engagements


"@ZubyMusic I assume they will spin up an AI representation based on each of our posts and grandchildren will wonder why my personality was centred around meme stocks"  
[X Link](https://x.com/mark_ledain/status/1704270646015107080)  2023-09-19T23:06Z [---] followers, [--] engagements


"@_sem_yyc $PIPE actually feels like its lagging crude but only if the deal goes through and they have the combined low decline oil assets. $PXT has the runway problem but underperformed crude last several weeks and is a bit of a political hedge if North America ever impairs the industry"  
[X Link](https://x.com/mark_ledain/status/1704884058545684764)  2023-09-21T15:43Z [----] followers, [---] engagements


"@KobeissiLetter Safety trade is potentially energy equities in this market. Fiscal spending is keeping demand for oil high while ESG dynamic impairs supply (further hurting bonds). There is also a funds flow tailwind as people start to hide out in energy for an inflation hedge"  
[X Link](https://x.com/mark_ledain/status/1704886623819993176)  2023-09-21T15:53Z [---] followers, [----] engagements


"@garlandrg I assume when neuralink analysts get stressed presenting the model to the Director you see their brain just start hardcoding key numbers"  
[X Link](https://x.com/mark_ledain/status/1704975999459569998)  2023-09-21T21:48Z [---] followers, [---] engagements


"@BarrySchwartzBW Its largely certain mega tech companies (makes sense given the lack of capex) and interestingly energy that are very cash rich this cycle"  
[X Link](https://x.com/mark_ledain/status/1704989697708277950)  2023-09-21T22:43Z [---] followers, [---] engagements


"Interested in how people think payment focused fintechs would fare in a higher for longer inflationary environment I lean positive: their flows climb year over year but they dont have the declining bond portfolios of banks and they earn higher rates on deposits. $PYPL $SQ"  
[X Link](https://x.com/mark_ledain/status/1705083386082234484)  2023-09-22T04:55Z [---] followers, [--] engagements


"Share price performance would tell me my thesis might be wrong though haha"  
[X Link](https://x.com/mark_ledain/status/1705083480034644062)  2023-09-22T04:55Z [---] followers, [---] engagements


"@CramerTracker Its not really hard to beat the S&P - Timmy [--] doesnt want to go into investment banking because the trading account restrictions will cap his upside"  
[X Link](https://x.com/mark_ledain/status/1705321408514163170)  2023-09-22T20:41Z [---] followers, [----] engagements


"MBA summer students helping the investment banking analyst build the model"  
[X Link](https://x.com/mark_ledain/status/1705939082696937973)  2023-09-24T13:35Z [---] followers, [---] engagements


"@NoCapFights Just one last rate hike and then the economy should have a soft landing"  
[X Link](https://x.com/mark_ledain/status/1706881148138438950)  2023-09-27T03:59Z [---] followers, 40.7K engagements


"@JohnPasalis Fintechs have tried offering no annual fee financial products to international students and met strong resistance - there is an entire ecosystem in Canada to protect the gravy train of getting students in expensive products. Sad that this is how we welcome people"  
[X Link](https://x.com/mark_ledain/status/1707247131193659520)  2023-09-28T04:13Z [---] followers, [---] engagements


"@Stocktwits I might have to just stop talking if I see my wife wearing the $META Smart Glasses as she will instantly know most of what I say is incorrect"  
[X Link](https://x.com/mark_ledain/status/1707492807303455104)  2023-09-28T20:29Z [---] followers, [----] engagements


"The Fed is comfortable returning to the zero bound in the future creating an ongoing gauntlet for banks. At the lowest rates asset prices and velocity increase and banks need to hold more treasuries than historical cycles given regulatory requirements. $WFC $C $BAC"  
[X Link](https://x.com/mark_ledain/status/1708926386977771590)  2023-10-02T19:26Z [----] followers, [---] engagements


"@WarrenPies This is definitely playing out. Many of the big energy and tech names are actually in net cash positions and are less susceptible to rate hikes while rates prevent new entrants. Big tech is unique this cycle where cash flows for certain names are near-term - not long duration"  
[X Link](https://x.com/mark_ledain/status/1708972074612687108)  2023-10-02T22:27Z [---] followers, [---] engagements


"@leadlagreport Central banks have impacted renewable supply as names hit [--] week lows and cancel projects. A lot of project economics dont work at these rates. Will be interesting if central banks relent given climate focus. Oil and gas by comparison performs well in high rate regimes"  
[X Link](https://x.com/mark_ledain/status/1709037412603846812)  2023-10-03T02:47Z [---] followers, [---] engagements


"@NorthmanTrader This reminds me of the real estate inflation doom loop in Canada. Shelter is a disproportionate part of the basket and a disproportionate number of people make their living from real estate. Rates rise landlords increase rent CPI looks to increase and rates are raised"  
[X Link](https://x.com/mark_ledain/status/1709260494140567572)  2023-10-03T17:33Z [---] followers, [----] engagements


"@CNN The bond market may actually like this turn of events $TLT. With economic data rolling over and Asia experiencing declining metrics the one remaining driver for prolonged inflation would be fiscal spending. Having spending hardliners in the mix may make people less concerned"  
[X Link](https://x.com/mark_ledain/status/1709312226145030388)  2023-10-03T20:59Z [---] followers, [---] engagements


"@JavierBlas Kind of interesting to see central banks add climate change to their mandate two years ago and then start to raise rates right away to the eventual level where renewable projects are getting cancelled. A lot of future renewable supply is disappearing daily"  
[X Link](https://x.com/mark_ledain/status/1709593675871989979)  2023-10-04T15:37Z [---] followers, 22.8K engagements


"@NorthmanTrader The price drop today and a predicted crude storage build next week might single-handedly prevent the bond market meltdown"  
[X Link](https://x.com/mark_ledain/status/1709652128959168516)  2023-10-04T19:30Z [---] followers, [----] engagements


"@GameofTrades_ With banks pulling back lending and savings declining there will be no more levers to maintain consumer spending. Student loan payments restarting further accelerates the drop in savings. This will show up in economic data but with a lag"  
[X Link](https://x.com/mark_ledain/status/1709681055979221461)  2023-10-04T21:25Z [---] followers, [----] engagements


"@zerohedge Would be wild if inflation was finally stopped by a drug that curbs cravings vs a central bank"  
[X Link](https://x.com/mark_ledain/status/1709709180330967132)  2023-10-04T23:16Z [---] followers, [----] engagements


"@gurgavin Tesla out here fighting inflation for everyone"  
[X Link](https://x.com/mark_ledain/status/1710276688624660784)  2023-10-06T12:51Z [---] followers, [----] engagements


"@NorthmanTrader Every time people need extra part time jobs to survive its viewed as a strong economy"  
[X Link](https://x.com/mark_ledain/status/1710290936389931495)  2023-10-06T13:48Z [---] followers, [---] engagements


"@DonMiami3 If they overtighten into the holidays you will see the impact of both that and the holiday jobs rolling off right at the start of 2024"  
[X Link](https://x.com/mark_ledain/status/1710306355293061444)  2023-10-06T14:49Z [---] followers, [----] engagements


"@morganhousel Nice to see that my stock picks arent the only way to lose money"  
[X Link](https://x.com/mark_ledain/status/1710374248777392192)  2023-10-06T19:19Z [---] followers, [----] engagements


"@unusual_whales At this scale how do the banks reset the loans Because presumably the mortgage cant be ported over and if they reset the term the borrower likely cant pay. Historically it was a small enough problem to approach solutions on a case by case basis"  
[X Link](https://x.com/mark_ledain/status/1710413967557058843)  2023-10-06T21:57Z [---] followers, [----] engagements


"@GRDecter Ozempic is fighting inflation more than central banks"  
[X Link](https://x.com/mark_ledain/status/1710426760553373901)  2023-10-06T22:48Z [---] followers, 13.1K engagements


"@BobEUnlimited Some foreign central banks have repositioned rapidly just in the last few years - selling treasuries and completing record gold purchases. Interesting to see"  
[X Link](https://x.com/mark_ledain/status/1710729364042854578)  2023-10-07T18:50Z [---] followers, [---] engagements


"@daniel_foch Canada always gets credit for a strong banking system and some of the banks are definitely extremely well managed but one thing that people miss globally is these types of policies steadily move risk from banks to taxpayers vs other countries that once in a while have bailouts"  
[X Link](https://x.com/mark_ledain/status/1711130992768111079)  2023-10-08T21:26Z [---] followers, [----] engagements


"@Gugo907 Where CFs are near-term. Tech has this image of long duration because of years ago (where they are investing for way out) even though big tech now has massive near term CFs and if anything their future value is riskier. Energy is similar with resource plays vs mega projects"  
[X Link](https://x.com/mark_ledain/status/1711222038718038236)  2023-10-09T03:28Z [---] followers, [--] engagements


"@ShanghaiMacro Oversupply from their industrial sector should be deflationary for the rest of the world"  
[X Link](https://x.com/mark_ledain/status/1711387059729179008)  2023-10-09T14:24Z [---] followers, [----] engagements


"@unusual_whales This will trap the BOC putting a cap on how high they can raise rates without crushing the housing market and is one of the reasons the loonie remains weak"  
[X Link](https://x.com/mark_ledain/status/1711762608662175751)  2023-10-10T15:16Z [---] followers, [--] engagements


"@gurgavin We just need to lend Argentina money for a couple weeks - voicemails I leave my wife"  
[X Link](https://x.com/mark_ledain/status/1712619260814774557)  2023-10-13T00:00Z [---] followers, [----] engagements


"Canada has a cost of living crisis. High shelter costs a weak currency that imports inflation on goods and oligopolies reducing competition in majors goods/services. If you are discouraged take a look at joining some of the companies trying to improve this. #fintech #jobs"  
[X Link](https://x.com/mark_ledain/status/1713244955618201922)  2023-10-14T17:26Z [---] followers, [---] engagements


"@unusual_whales With Canada rolling out higher taxes mortgage payments can eat up even more of a families income over the next several months even if mortgage rates stay flat"  
[X Link](https://x.com/mark_ledain/status/1714304669252739426)  2023-10-17T15:37Z [---] followers, [----] engagements


"@ManyBeenRinsed This will remove a quarter of mortgage volume from the market will it not and a significant amount of housing sales volume Since tailored likely means it cant be ported to another institution and couldnt be underwritten fresh"  
[X Link](https://x.com/mark_ledain/status/1714761888939344262)  2023-10-18T21:54Z [---] followers, [---] engagements


"@Austen The difficult thing about a lot of academic streams is it is not in the best interest of the providers to share an accurate view on the expected return of that investment. Every day that the cost of education goes up further reduces the incentive to highlight ROI"  
[X Link](https://x.com/mark_ledain/status/1714776276006060312)  2023-10-18T22:51Z [---] followers, [---] engagements


"@ronmortgageguy With the accommodations on negative amortizing mortgages wont that take 25% of mortgage and home sales volume out of the market going forward Since people wont be able to port those mortgages to a fresh FI or qualify again Thatll freeze a big chunk of volume for years"  
[X Link](https://x.com/mark_ledain/status/1715070659880202316)  2023-10-19T18:21Z [---] followers, [---] engagements


"@ManyBeenRinsed @StephenPunwasi Some of the hotel equities may actually be undervalued if government is fully focused on moving AirBnBs back into housing supply as they face voter pressure. A lot of change right now"  
[X Link](https://x.com/mark_ledain/status/1715126515942465858)  2023-10-19T22:03Z [---] followers, [---] engagements


"@unusual_whales Everyone with deflation bets is just waiting for this tour to end"  
[X Link](https://x.com/mark_ledain/status/1715488960317890736)  2023-10-20T22:03Z [---] followers, [---] engagements


"@SA_VanInvestor Good summary. The industrial doesnt get any credit in this portfolio despite North America going through a manufacturing renaissance given 1) energy costs vs Europe and 2) desire for more supply chain control vs Asia Probably just too complex vs size"  
[X Link](https://x.com/mark_ledain/status/1715780481755791627)  2023-10-21T17:21Z [---] followers, [--] engagements


"@Barchart This is definitely me adding up all my losses this year into tax season. Good news honey. A complicated maneuver (losing money) means we dont owe capital gains taxes this year"  
[X Link](https://x.com/mark_ledain/status/1716314812509204593)  2023-10-23T04:45Z [---] followers, [---] engagements


"Gold is at a massive technical decision point this week where we will find out if its the cool Idris Elba video below or the reruns of old $GDX"  
[X Link](https://x.com/mark_ledain/status/1716316511475024327)  2023-10-23T04:51Z [---] followers, [---] engagements


"@EconguyRosie A couple things are going to compound the current slowdown into a hard landing. Particularly in Canada. An example is real estate became too large with a big chunk of RE related household income (I.e. rental income). People need to now enter the workforce as this dries up"  
[X Link](https://x.com/mark_ledain/status/1716529139359055892)  2023-10-23T18:56Z [---] followers, [---] engagements


"@unusual_whales The US homeowner is much more protected than Canadians given the longer mortgages in the US. One of two things will happen because of this. It will force the BOC to slow importing inflation with a weaker loonie or the BOC will keep rates high and crush Canadian housing"  
[X Link](https://x.com/mark_ledain/status/1716833637877129462)  2023-10-24T15:06Z [---] followers, [---] engagements


"Dividend screens are starting to show energy stocks at the same time that reits and utilities disappear due to dividend cuts. The high rate environment benefits shorter cycle oil and gas especially as these names hit lower debt levels. $WCP $CNQ $TOU"  
[X Link](https://x.com/mark_ledain/status/1718606838844067894)  2023-10-29T12:32Z [---] followers, [---] engagements


"@cremieuxrecueil @sarthakgh There are going to be some wild policies as countries battle with declining demographics"  
[X Link](https://x.com/mark_ledain/status/1718712638270742714)  2023-10-29T19:33Z [---] followers, [----] engagements


"TSA data shows2.48 Mpeople passed through airport screening daily this past week. Up 10% vs [----] as air travel is rapidly eclipsing historical highs. Demand is surprisingly inelastic as millennials spend more on travel and retirees arent stopping. $CNQ $WCP $SU $CVE"  
[X Link](https://x.com/mark_ledain/status/1719039297356202145)  2023-10-30T17:11Z [---] followers, [---] engagements


"@daniel_foch Housing became too large a part of the Canadian economy achieving levels only reached in Greece. Now the BOC is trapped where the economy isnt strong enough to have further raises now importing inflation but rates have to also be kept high to reduce the housing cost crisis"  
[X Link](https://x.com/mark_ledain/status/1719397311170924646)  2023-10-31T16:53Z [---] followers, [----] engagements


"@daniel_foch Difficult for people to stay amidst a cost of living crisis as Canada sees a record number of immigrants leaving the country. Feel bad for these families. This also makes BOC policy tough because it means the economy potentially looks hotter right now than it actually is"  
[X Link](https://x.com/mark_ledain/status/1719423266354549241)  2023-10-31T18:37Z [---] followers, [---] engagements


"@INArteCarloDoss Do you think China exports deflation if they keep grinding lower on some of these indicators"  
[X Link](https://x.com/mark_ledain/status/1719905651315605959)  2023-11-02T02:33Z [---] followers, [----] engagements


"@followtheh Sometimes I think the Fed created Halloween just so that it would result in multiple firings every year to keep inflation in check"  
[X Link](https://x.com/mark_ledain/status/1719944875838464173)  2023-11-02T05:09Z [---] followers, [----] engagements


"@MacroEdgeRes Canada is actually in one and families have likely been feeling it for a while with declining GDP per capita over multiple time periods now"  
[X Link](https://x.com/mark_ledain/status/1720175161003958323)  2023-11-02T20:24Z [---] followers, [--] engagements


"@RobertClarke_WM Oxy hedging their bets"  
[X Link](https://x.com/mark_ledain/status/1720849388426412427)  2023-11-04T17:04Z [---] followers, [---] engagements


"@IceCapGlobal People not calling a recession when early estimates already show a contraction is very bold. Haha"  
[X Link](https://x.com/mark_ledain/status/1721157274373419262)  2023-11-05T13:27Z [---] followers, [---] engagements


"@Rainmaker1973 Almost ready for nic cage to buy it"  
[X Link](https://x.com/mark_ledain/status/1722002830700003822)  2023-11-07T21:27Z [---] followers, [----] engagements


"This is a good summary from @chartrdaily on the decline in dating apps $BMBL and $MTCH I think this is actually a better economic indicator then it is an indictment of those businesses. People just cant afford dates right now to the same extent as they could previously"  
[X Link](https://x.com/mark_ledain/status/1722441477668680085)  2023-11-09T02:30Z [----] followers, [---] engagements


"@Geiger_Capital Did climate protestors just notice that high rates crush renewables Or is this a non specific protest"  
[X Link](https://x.com/mark_ledain/status/1722745976308236434)  2023-11-09T22:40Z [---] followers, [----] engagements


"@Tablesalt13 Every central bank right now translated: dear government if you dont stop spending and creating inflation through fiscal policy you will force me to crash the entire housing market and wipe out a decade of equity gains for families. You dont seem to be listening"  
[X Link](https://x.com/mark_ledain/status/1722752840471298524)  2023-11-09T23:07Z [---] followers, [----] engagements


"Every night after rallies like this Im tempted to go long every triple levered short ETF but then have to look at the chart and have this conversation with myself $SQQQ $TWM $SOXS"  
[X Link](https://x.com/mark_ledain/status/1724671127480598977)  2023-11-15T06:10Z [----] followers, [---] engagements


"@MacroEdgeRes Rightly or wrongly I think weakness in the labour market and broader economy will actually increase return to work. Managers will be under pressure for results and to improve communication/pace and increased economic power for employers likely helps them pull people back"  
[X Link](https://x.com/mark_ledain/status/1724986072218976740)  2023-11-16T03:01Z [---] followers, [---] engagements


"@MikePMoffatt @EricDLombardi GDP per capita now forecast to fall to the lowest rate amongst peers. Innovation metrics continue to fall as well - my simple view for that is that its tougher to take risks and start a business when a country has a cost of living crisis (shelter costs as a higher % etc.)"  
[X Link](https://x.com/mark_ledain/status/1726748304300757400)  2023-11-20T23:44Z [---] followers, [---] engagements


"@Tablesalt13 Interesting to see the muted Canadian bond reaction to weakening inflation. Maybe Canada is getting to the point where continued deficits even prior to a recession point to a world where limited demand for our bonds is what drives rates and the BOC ends up with less control"  
[X Link](https://x.com/mark_ledain/status/1727003878611395052)  2023-11-21T16:39Z [---] followers, [---] engagements


"@trevortombe Definitely. This loop is much more present in Canada vs how economists historically thought about it - given shelter in Canada is a much higher percent of living costs"  
[X Link](https://x.com/mark_ledain/status/1727036128820441261)  2023-11-21T18:47Z [---] followers, [---] engagements


"@maxentropy4344 The core problem right now is governments are spending because they feel thats the way to help families and central banks keep needing to raise to fight the inflation this causes Families then get crushed between the worst of both with steady inflation and high mortgage rates"  
[X Link](https://x.com/mark_ledain/status/1727095667791942131)  2023-11-21T22:44Z [---] followers, [---] engagements


"@TSXDivStock Im always surprised Canadian prefs dont perform better. That should be the one benefit we get for having most major services provided by oligopolies - is that the prefs should pay well and be viewed as reliable haha $zpr $cpd"  
[X Link](https://x.com/mark_ledain/status/1727526597987815511)  2023-11-23T03:16Z [----] followers, [--] engagements


"@RobertClarke_WM The efficiency of the US shale industry kept inflation in check the decade prior and was a huge tailwind for growth. Very rare to have a period of efficiency gains and access to capital like that and I think the world just assumes its the norm"  
[X Link](https://x.com/mark_ledain/status/1729530468041883932)  2023-11-28T15:59Z [---] followers, [--] engagements


"@VCBrags Common phrases in our home include flag up (when someones sees something they dont want to fix) mvp (anything I build around the house) angel investor (father-in-law)"  
[X Link](https://x.com/mark_ledain/status/1729556637663236225)  2023-11-28T17:43Z [---] followers, [----] engagements


"@HighyieldHarry How many financial firms added this to their expected interview exchange"  
[X Link](https://x.com/mark_ledain/status/1729567376327192736)  2023-11-28T18:26Z [----] followers, [----] engagements


"This might kickstart a larger copper bull market as it becomes clearer that not only is new supply impaired but even current supply is increasingly at risk $HBM $LUN Clean energy transition needs copper Could also be another catalyst for a broader commodities bull market"  
[X Link](https://x.com/mark_ledain/status/1729996145685045390)  2023-11-29T22:49Z [----] followers, [---] engagements


"@gurgavin I wish theyd add some of my North American stocks to that list haha"  
[X Link](https://x.com/mark_ledain/status/1730090665344897377)  2023-11-30T05:05Z [---] followers, [---] engagements


"@jdcmedlock Im pretty sure this is identical to the fallout of the compliance team at Morgan Stanley noticing the summer analyst going over their per diem for dinner"  
[X Link](https://x.com/mark_ledain/status/1730091213146267935)  2023-11-30T05:07Z [---] followers, [---] engagements


"@IceCapGlobal Pretty incredible when you think that the US usually drags Canada along a bit and the American economy is still humming - must mean Canada is in really bad shape"  
[X Link](https://x.com/mark_ledain/status/1730227041209839737)  2023-11-30T14:07Z [---] followers, [----] engagements


"@mikalskuterud Shrinking GDP and a growing population has been the recipe for unrest in a country for the last several centuries - scary to see and means significant pressure on families"  
[X Link](https://x.com/mark_ledain/status/1730227413194559955)  2023-11-30T14:08Z [---] followers, [----] engagements


"Instead of a bell schools in Canada should start each day on the speaker saying when older dont just take the renewal rate for a mortgage when you get it in the mail from big banks. You can save yourself a lot of money by checking with other providers - great return on time"  
[X Link](https://x.com/mark_ledain/status/1730586270576132213)  2023-12-01T13:54Z [---] followers, [--] engagements


"@meepmeep1024901 Schools dont teach enough financial literacy so thats why it falls on parents - and then varying experiences for the families compound into structural inequality. Its a big gap. Bad for society too because poor decisions create larger economic risks"  
[X Link](https://x.com/mark_ledain/status/1730586830796738607)  2023-12-01T13:57Z [---] followers, [--] engagements


"With gold breaking out after such a long base Id be surprised if it doesnt drag up the broader commodity complex next few years Even just a steady influx of capital into miners can drive pretty material demand gains for oil $GDX $GLD $XEG $XLE"  
[X Link](https://x.com/mark_ledain/status/1731461774954889570)  2023-12-03T23:53Z [----] followers, [---] engagements


"@jameslavish @PrestonPysh Very sad to see and causes the problem to snowball. The more this occurs the more you can expect a political majority will support increased entitlements then expanding the deficit and reducing the value of peoples hard earned remaining savings"  
[X Link](https://x.com/mark_ledain/status/1731866855151747325)  2023-12-05T02:43Z [---] followers, [---] engagements


"@Trace_Cohen Always crazy to think of the amount of time wasted on early stage financial forecasts based on nothing vs testing things with the market. Boards/advisors that pretend to review a pre product financial forecast are equally dangerous"  
[X Link](https://x.com/mark_ledain/status/1732074578749641201)  2023-12-05T16:28Z [---] followers, [---] engagements


"@darrenmarble Investor in Uber (once public)"  
[X Link](https://x.com/mark_ledain/status/1732591097770291549)  2023-12-07T02:41Z [---] followers, [--] engagements


"@Mr_Derivatives Im very surprised EM as a whole is not performing better. You have crude dropping for several weeks now providing a relief valve for those economies and its becoming clear the US cant do higher for longer on the rates side either. Both those are tailwinds. $VWO $VEE"  
[X Link](https://x.com/mark_ledain/status/1732602403105505625)  2023-12-07T03:26Z [---] followers, [----] engagements


"@coloradotravis So many people that think they found a growth hack in finance just found looser underwriting terms"  
[X Link](https://x.com/mark_ledain/status/1732603483797459236)  2023-12-07T03:30Z [---] followers, [---] engagements


"For the big banks personal loans are about 7% of total loans. Auto is likely half of that. Cards are 3% mortgages 52%. Business/gov is rest As mortgages renew at higher rates its deterioration in the other categories that you see first indicating stress $RB $BNS $TD $CM"  
[X Link](https://x.com/mark_ledain/status/1732835080396284092)  2023-12-07T18:50Z [---] followers, [---] engagements


"@CEOTechnician @trend_bullish Im surprised copper hasnt rocketed more on the ongoing First Quantum situation. Not only does it look to be removing real supply but future supply is increasingly at risk as you typically see policies trend in a certain direction across multiple countries. $LUN $HBM $TECK"  
[X Link](https://x.com/mark_ledain/status/1733272915737715018)  2023-12-08T23:50Z [----] followers, [---] engagements


"@DailyLoud Everyone recording these for if they ever meet with their compliance departments"  
[X Link](https://x.com/mark_ledain/status/1733969537140400299)  2023-12-10T21:58Z [---] followers, [---] engagements


"@lisaabramowicz1 I feel like with the current funding dynamics we will likely get record treasury sales every year going forward. Itll become evergreen the same way record credit card debt becomes an evergreen article in any fiat economy"  
[X Link](https://x.com/mark_ledain/status/1734047300878848149)  2023-12-11T03:07Z [---] followers, [----] engagements


"@saxena_puru @intheyield The one tailwind for soft landing is there has rarely been this much spare capacity in the oil market to provide a release valve for consumer spending pressure"  
[X Link](https://x.com/mark_ledain/status/1734573738358640780)  2023-12-12T13:59Z [---] followers, [---] engagements


"Things feel overvalued but one potential tailwind that is more in play after today is a weakening dollar. Especially if it breaks historical uptrend. This could provide a tailwind for US mega caps that can support additional earnings growth. $DXY $TLT $SPY"  
[X Link](https://x.com/mark_ledain/status/1735132127552008577)  2023-12-14T02:58Z [---] followers, [---] engagements


"Will be interesting to see if EM starts climbing rapidly here after pricing in a weaker USD regime after the pivot acknowledgement yesterday $VWO $VEE"  
[X Link](https://x.com/mark_ledain/status/1735313631485788561)  2023-12-14T14:59Z [---] followers, [---] engagements


"@RealEJAntoni Everyone calling for a second round of inflation with lower rates. How does that square with the last decade showing low rates are very deflationary barring helicopter money which is not low rates Low rates = deflation makes sense as energy typically returns its cost of capital"  
[X Link](https://x.com/mark_ledain/status/1735415641052733661)  2023-12-14T21:45Z [---] followers, [----] engagements


"@maxfawcett Beyond the hard money thesis crypto is a good store for energy. I dont know why people hate it Right now renewables produce marginal zero cost energy in parts of the world but storage sucks. Crypto is a great outlet vs the alternative of tons of energy to maintain a fiat regime"  
[X Link](https://x.com/mark_ledain/status/1735551282566574094)  2023-12-15T06:44Z [----] followers, [---] engagements


"@Barchart Im generally bearish by nature but one element of a sustained rally would by the $DXY weakness we are seeing. Its a much larger tailwind for mega cap earnings than in previous cycles and these names havent had the benefit of a weak currency for multiple quarters"  
[X Link](https://x.com/mark_ledain/status/1735551932457213969)  2023-12-15T06:46Z [----] followers, [---] engagements


"Every asset class globally is sourced/maintained with an immense amount of energy (people mine gold protect fiat) Its always odd to me #Bitcoin gets the most attacks when its the one that can use/store marginal zero cost power (I.e. renewables) as its not location dependant"  
[X Link](https://x.com/mark_ledain/status/1735662858149810213)  2023-12-15T14:07Z [---] followers, [--] engagements


"@saxena_puru The one thing I struggle with on recession forecasts is typically copper sniffs out a recession in advance and copper just keeps climbing right now $HBM $LUN"  
[X Link](https://x.com/mark_ledain/status/1735809074900697374)  2023-12-15T23:48Z [----] followers, [---] engagements


"Eckhart Tolle talking to me about my commodity stocks $XLE $GDX"  
[X Link](https://x.com/mark_ledain/status/1736054955998691550)  2023-12-16T16:05Z [---] followers, [---] engagements


"@CBCNews Itll be interesting if the Canadian tolerance for oligopolies disappears after this cost of living crisis Competition and tech are deflationary vs the status quo. This is why other countries have an easier time reducing inflation"  
[X Link](https://x.com/mark_ledain/status/1736091728837530028)  2023-12-16T18:31Z [---] followers, [---] engagements


"@TheStalwart They might be nearing the end of their capacity to take pain based on the recent wave of articles - which would mean a ramp in stimulus"  
[X Link](https://x.com/mark_ledain/status/1736611744393613421)  2023-12-18T04:57Z [---] followers, [---] engagements


"@9KGOLD A sustained gold breakout would be an interesting tailwind to the larger commodity complex"  
[X Link](https://x.com/mark_ledain/status/1736901495931703521)  2023-12-19T00:09Z [---] followers, [---] engagements


"I had a nightmare that my junior mining stocks could talk to me through George Santos"  
[X Link](https://x.com/mark_ledain/status/1736906098496713091)  2023-12-19T00:27Z [---] followers, [---] engagements


"@CCM_Brett Get paid to wait has to be a close second. A lot of people get 5% in dividends each year to watch uncompetitive legacy dividend names drop 10% annually (I know cause I do this in my portfolio haha)"  
[X Link](https://x.com/mark_ledain/status/1736913264863596753)  2023-12-19T00:56Z [---] followers, [---] engagements


"I think things are expensive but at the same time its tough to balance a declining $USD and $DXY that is a legitimate potential tailwind to mega cap earnings that the $SPY hasnt had in years US dollar weakening wasnt on the table until recent Fed updates but it is now"  
[X Link](https://x.com/mark_ledain/status/1737273201909211299)  2023-12-20T00:46Z [---] followers, [---] engagements


"@profplum99 So I guess stocks are the economy"  
[X Link](https://x.com/mark_ledain/status/1737523430633947255)  2023-12-20T17:20Z [---] followers, [---] engagements


"@_tbpa_ @KobeissiLetter Depends if the government maintains massive fiscal. Also depends how much of inflation was from a reshoring push and brief supply chain frictions (post Covid moving out of Europe with energy costs). Im open to a deflationary wave but current levels of gov spend make that tough"  
[X Link](https://x.com/mark_ledain/status/1737595210476249440)  2023-12-20T22:05Z [---] followers, [--] engagements


"@KobeissiLetter Oil and gas production looking well supplied has played a big part in reducing inflation expectations and tempering a second wave. The market went from a large expected deficit in H2 [----] to oversupplied. This has given central banks a lot more breathing room"  
[X Link](https://x.com/mark_ledain/status/1737921075013648435)  2023-12-21T19:40Z [---] followers, [---] engagements


"@paulvieira Per capita GDP is the economic statistic that families feel - always weird when politicians pick total GDP or an entirely different measure to reference. Seems disconnected"  
[X Link](https://x.com/mark_ledain/status/1738043518264713468)  2023-12-22T03:47Z [---] followers, [----] engagements


"@TheStalwart Energy investment and capital flows into energy of all types is very deflationary. Shale having incredibly easy access to capital in the middle of last decade showed how cheap energy is a gift and can keep inflation in check"  
[X Link](https://x.com/mark_ledain/status/1738257080262259070)  2023-12-22T17:55Z [---] followers, [---] engagements


"@TheStalwart Unlimited Sip Club at panera is going to have GDP coming in to the upside for sure"  
[X Link](https://x.com/mark_ledain/status/1738279971406156059)  2023-12-22T19:26Z [---] followers, [--] engagements


"@BullandBaird It generally seems difficult to assume the consumer will suddenly collapse here with a rapid decline in mortgage rates and energy costs last several weeks"  
[X Link](https://x.com/mark_ledain/status/1738605861935690130)  2023-12-23T17:01Z [---] followers, [--] engagements


"@coldhardsats @PrestonPysh This is a good chart. There are a bunch of things that are a given in a fiat economy that people dont connect with currency devaluation for some reason. For example credit card debt hits record highs should likely be an evergreen article in a fiat economy for better or worse"  
[X Link](https://x.com/mark_ledain/status/1738747537618526540)  2023-12-24T02:24Z [---] followers, [----] engagements


"$DXY breaking to the downside is a real legitimate tailwind to earnings and global growth even if markets are expensive. A cool down in $SPY is likely warranted but its tough the see a full fledged collapse if the dollar is dropping steadily"  
[X Link](https://x.com/mark_ledain/status/1739697529602617698)  2023-12-26T17:19Z [---] followers, [---] engagements


"I wonder in the future if AI tools will let family just turn your presence back on for certain holidays Im so worried I give everyone bad financial advice on my last thanksgiving and then no one turns me back on for centuries"  
[X Link](https://x.com/mark_ledain/status/1739801752654749858)  2023-12-27T00:13Z [---] followers, [--] engagements


"@Gugo907 The interesting thing about bonds is they still look cheap vs some of the aggressive rate cut estimates despite an aggressive rally last several weeks. If energy weakness persists then they probably rally further - thats been an unexpected gift for the long bond crowd"  
[X Link](https://x.com/anyuser/status/1740081639034646657)  2023-12-27T18:46Z [--] followers, [--] engagements


"Free legal advice: paint slippery on the floor of your building so that no one can ever sue you (actually not legal advice)"  
[X Link](https://x.com/anyuser/status/1740231893139013827)  2023-12-28T04:43Z [--] followers, [--] engagements


"@EconguyRosie The only potential earnings tailwind I see is the dollar looks like it might be breaking down. Mega caps havent had a weak dollar tailwind in a long time"  
[X Link](https://x.com/anyuser/status/1740396308471632035)  2023-12-28T15:36Z [--] followers, [----] engagements


"@Gugo907 EM ops are interesting. A bit of an energy hedge too as prolonged low crude prices are a tailwind. The rental reits are appealing $MI.UN $MRG.UN. Names sold off with sector despite rents hitting new highs due to population growth and the avg. landlord trying to meet mortgages"  
[X Link](https://x.com/anyuser/status/1740478558311710792)  2023-12-28T21:03Z [--] followers, [---] engagements


"@MPelletierCIO Interesting to see Canadian public REITs dont yet incorporate these rates. Youd think the residential or diversified ones would have at least moved. A lot of dividend names from $ENB to $BCE also havent recalibrated for a lower rate environment yet like CAD bonds are moving"  
[X Link](https://x.com/anyuser/status/1740492520495493242)  2023-12-28T21:58Z [--] followers, [---] engagements


"@zerohedge First a handsome Idris Elba documentary and now increased retail distribution. The pieces all falling into place for a potential gold bull market"  
[X Link](https://x.com/mark_ledain/status/1740523879708422329)  2023-12-29T00:03Z [---] followers, [----] engagements


"@MikePMoffatt Good thread. The Canadian dynamic of not getting fired for buying IBM or following the plan is very real. With the major employers being oligopolies it becomes more about career risk vs company risk - which isnt good for innovation as there is less incentive for trying things"  
[X Link](https://x.com/anyuser/status/1740727078805454849)  2023-12-29T13:30Z [--] followers, 16.3K engagements


"@RobinBrooksIIF Inflation is absolutely collapsing in Europe and China is experiencing deflation. Broader demographics and tech innovations remain deflationary. Outside Canada its tough to picture sticky inflation like the 70s"  
[X Link](https://x.com/anyuser/status/1741202068621480314)  2023-12-30T20:58Z [--] followers, [---] engagements


"@ronmortgageguy @JustinTrudeau @fordnation It costs so much to build in Canada - prior to any return for developers. Developers should start putting what the base build cost for a detached is on their homepage (or even just land and permits) so that people start crying for change and politicians understand"  
[X Link](https://x.com/mark_ledain/status/1742219081061966203)  2024-01-02T16:19Z [---] followers, [----] engagements


"@RobertFife As gov jobs and indirect gov jobs (financed by supplying etc.) get larger it will be interesting to see if economic trends change. I.e. if a big voting block becomes employed by you then you likely dont cut jobs deeply and people bet against currencies vs consumption"  
[X Link](https://x.com/mark_ledain/status/1742221305234206920)  2024-01-02T16:28Z [---] followers, [----] engagements


"@daniel_foch @CMHC_ca This is a good chart thanks. Guess its the wave of refis and house switching from the low Covid rates"  
[X Link](https://x.com/mark_ledain/status/1742747987540054370)  2024-01-04T03:21Z [---] followers, [---] engagements


"@daniel_foch Canadian real estate investment pulls capital from other industries. Its one of the reasons innovation metrics and competition metrics are so low - makes it easier for incumbent companies in the country to maintain status quo"  
[X Link](https://x.com/mark_ledain/status/1742753895238234247)  2024-01-04T03:44Z [---] followers, [---] engagements


"@maxfawcett Itll be interesting to see if the cost of living crisis causes Canadians to finally reduce oligopolies. Everyone was okay with historical arguments that oligopolies worked because they were required given the size of the country/investment but tech has advanced significantly"  
[X Link](https://x.com/mark_ledain/status/1742754451902079302)  2024-01-04T03:46Z [---] followers, [----] engagements


"@IndraStocks Some REITs are honestly interesting - a couple of the rental ones are hitting record rental rates but sold off with broader sector give CRE worries. Copper is interesting - if the energy transition is to continue at even half the expected pace there is not enough copper"  
[X Link](https://x.com/anyuser/status/1743100590480343542)  2024-01-05T02:42Z [--] followers, [---] engagements


"@AmandaMGoetz There is a disconnect in lots of jobs on the resources it takes to work hard as parents. People assume working hard is a question of will/character and they just need to motivate like consultants and bankers but those jobs provide comp that lets parents get childcare etc"  
[X Link](https://x.com/mark_ledain/status/1743641604949266589)  2024-01-06T14:32Z [---] followers, [---] engagements


"@tunguz Im not long enough Nvidia"  
[X Link](https://x.com/mark_ledain/status/1744499098047402471)  2024-01-08T23:19Z [---] followers, [---] engagements


"China stocks might start to seem interesting as part of a broader portfolio here If China stays like this then it probably exports some deflation to the rest of the world reducing inflation risk for other bonds and equities. Or they stimulate and bottom $KWEB $MCHI $BABA $TLT"  
[X Link](https://x.com/mark_ledain/status/1744726716923388294)  2024-01-09T14:23Z [---] followers, [---] engagements


"@BobEUnlimited Lower energy costs feel like a surprise tailwind for the consumer these last few months. Everyone forecasted an energy shortage in H2 [----] and it was anything but"  
[X Link](https://x.com/anyuser/status/1744750699177812479)  2024-01-09T15:59Z [--] followers, [---] engagements


"@mikebeckhamsm A lot of the biggest companies and executives just kept finding ways to stay alive until they had a large tailwind to ride"  
[X Link](https://x.com/mark_ledain/status/1744752249040171224)  2024-01-09T16:05Z [---] followers, [--] engagements


"@texasrunnerDFW Number of Airbnb help posts seems like it would be a pretty good leading indicator for real estate listings. Same way I want to sell my stocks if advisors reach out to me cold (I assume I must be near the bottom of their list and they are low on funds flow to reach out haha)"  
[X Link](https://x.com/mark_ledain/status/1744796947507204206)  2024-01-09T19:03Z [---] followers, [----] engagements


"@marketplunger1 Chinese equities seem tempting here. If they dont stop falling then it probably means that China is exporting deflation and you no longer have to worry about inflation for the rest of your portfolio. On the other hand if they start stimulating then its likely bottom"  
[X Link](https://x.com/mark_ledain/status/1744829646447976780)  2024-01-09T21:12Z [---] followers, 13.3K engagements


"@historyinmemes This is a great video. Shows why casinos have lights everywhere and blast oxygen. Would be nice to have the same focus on classroom conditions haha"  
[X Link](https://x.com/anyuser/status/1744830538220032214)  2024-01-09T21:16Z [--] followers, [---] engagements

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