On Bitcoin, India, And S&P 500 Earnings

Today, Eric examines MSTR’s strategy of levering up to buy bitcoin via equity and debt issuance. It’s worked great until recently; but if the value of bitcoin were to continue to plummet, MSTR could be in trouble. We think bitcoin is here to stay; MSTR may not be. … Also: Melissa reports that India’s financial markets have become speculative and its GDP growth has cooled from its former blistering 8% y/y rate. But the government has a plan: “Make India Great Again” aims to grow India into the world’s third largest economy by 2030. … How supported by earnings are recent S&P 500 valuations? Joe shares timely data on which way the estimate revisions winds have been blowing.