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1. Top 10% of U.S. Stocks are 75% of Entire Market

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2. Mag 7—Earnings-First Quarter with No Positive Surprises Since 2022

Chart Rounding Top Close Below 50 Day.

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3. This Chart Shows Mag 7 ETF vs. KWEB Chinese Tech Stocks…Closed Below 200 Day

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4. Homebuilders XHB -8% Since Election

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5. T-Mobile +694% over 10 Years

Via Barron’s: Why is a phone company trading like a member of the Magnificent Seven? T-Mobile US stock is up 54% in a year and 694% over the past decade. That beats Amazon over the first time frame, Meta Platforms over the second, and Alphabet and Apple over both.

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6. China 5% of Global Manufacturing to 32% Today

Thirty years ago, the West and its allies controlled nearly three-quarters of global manufacturing. Today their share is less than half. China alone has gone from 5% of global manufacturing in 1995 to 32% today, more than double the share of the United States. When China’s dominance was limited to toys and textiles, and even laptops and smartphones this did not raise alarm, but the scale and speed with which China has broken into high-value added manufacturing is becoming a concern in Western capitals.

China’s 32% share of global manufacturing masks more relevant and staggering facts. Just a few here: more than half the world’s industrial robots are installed in China; China dominates in shipbuilding, with 80% of export market share, and over 200 times the production capacity of the US; the number of 5G base stations installed in China is estimated at around 4 million compared to about 100,000 in the US, despite both countries having almost equivalent land mass.

One key industry where China has lagged is in high-end semiconductors where the US and its allies (Taiwan and Korea) still dominate by a significant margin, and where the desire to limit China’s gains led to US export controls. But again, China’s development of Deep Seek showed how these disadvantages could be circumnavigated.

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7. ETF Money Flows: Bitcoin 5x Next Ticker

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8. LinkedIn’s $16B Business

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9. January Effect Visual

 Chart of the day.

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10. 200 Emails…

Muscling your way through

Via Seth Godin’s blog: When there’s an overwhelming amount of incoming, it’s possible to bear down and simply get through it.

200 emails because of a product launch.

A project goes viral and there are a lot of fires to put out.

A deadline is imminent and it’s going to be a long night…

But when the incoming becomes chronic, it’s simply not possible. The problem isn’t a lack of effort. The problem is the system.

Forty years ago, anyone working in an office had to work their way through the pink while-you-were-out slips and the inbox. That’s it.

Now, there’s exponentially more, particularly if you are engaging with anyone outside of your organization.

The only solution is to change the system.

Simply shut down some channels of communication. Hand off entire swaths of engagement to someone else. Not next week, but now. Not for awhile, but forever.

Attention doesn’t scale, no matter how hard we try.

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