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Today we have a message from: Masterworks
Yes, this platform’s 77% return is an outlier – but the rest may surprise you
The news is true: Masterworks’ 15th sale just weeks ago returned an impressive 77% to investors. While such a high return is an outlier for the blue-chip art investing platform, you might be wondering what their prior sales delivered. Glad you asked…
Every one of their sales has returned a profit to investors, with 12 of them delivering double-digit returns, and 1 delivering triple-digit annualized returns.
In full, Masterworks has over 300 paintings and their 16 exits have delivered: 32%, 39.3%, 36.2%, 27.3%, 9.2%, 33.1%, 21.5%, 17.8%, 13.9%, 35%, 10.4%, 325.5%, 4.1%, 17.6%, 77.3%, and 13.4% net annualized returns.
Every sale but one outperformed the stock market in the period from when it was offered to when it was sold.
With performance like that, offerings on the platform can sell out in minutes. However, BraVoCycles Newsletter readers can skip the waitlist to join with this exclusive link.
Past performance is not indicative of future returns, investing involves risk. See disclosures masterworks.com/cd
Market Summary
There was a CPI shake-up today after a flat day on Monday (the calm before the storm, as we suggested on Monday). There was a shake-up yesterday too. I wonder if there was a CPI leak?!? We get these things often. I wonder why no one is investigating these potential leaks.
The wave structure is murky, allowing for both up- and down-movement from here. But looking at multiple things, I suspect a short-term bounce is due, with or without a slightly lower first. Thus, I would still look for some more up-action before a reversal.
Repeat from before:
The short-term analysis is becoming more in line with the intermediate—and long-term analyses, which suggests a reversal is due. The lightning could strike unexpectedly around the tops.
My longer-term expectations do not change. I will repeat from the weekend report: “Despite the market's resiliency and FOMO, I expect a correction in the next 2-4 months, initially.
There was a catch-down in the market today.
Market data as of close on 10 Apr. 2024.
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Chart of the Week
The “Sick Man of Europe,” Germany ETF (EWG) finally turned over after amazing strength in a recession? Significant down potential. We shall see.
Chart of the Day
NVDA is behaving and trending underneath the 10D EMA. But bouncing off the pink support now.
For short updates between newsletters, follow me on X (formerly Twitter):
Interest Rates Continued
While CPI inflation is at 3.5%, inflation is much higher in many basic necessities:
1. Car Insurance Inflation: 22.2%
2. Transportation Inflation: 10.7%
3. Car Repair Inflation: 8.2%
4. Hospital Services Inflation: 7.5%
5. Homeowner Inflation: 5.9%
6. Rent Inflation: 5.7%
7. Electricity Inflation: 5.0%
8. Food Away From Home Inflation: 4.2%
10Y yield reacted accordingly. But is it going to last?
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