Why Retail Traders Consistently Underperform Over Time
Decades of data across global markets reach the same verdict: the more frequently retail traders trade, the worse they perform. The infrastructure has never been more inviting. The losses have never been more documented. Here are some key statistics we […]
Spotting Market Bubbles: Why History Says It’s Nearly Impossible
If you knew you were standing inside a stock market bubble, you wouldn’t be standing in it for long. You’d sell. So would I, and so would everyone reading this. And if spotting market bubbles was something everyone could do […]
Margin Debt Risk: The Ratios That Mislead Investors
Margin debt just set another record. In May 2026, investors owed their brokers a combined $1.42 trillion, the highest in history and a 53.7% jump from the prior year.1 Every time this number prints a new high, the same charts circulate: margin […]
Record Retail Inflows: Where Is All The Money Coming From?
A couple of weeks ago, I showed Adam Taggart the following chart of record retail levels of household cash as a percentage of total financial assets. This chart is hard to square with the financial media narratives. For example, two […]
The Technical Backdrop: When Flows Meet a Hawkish Fed
Here’s the setup most investors are underrating right now. Over the next two weeks, the tape will trade on plumbing rather than fundamentals. We just cleared the largest options expiration in history. Quarter-end pension selling comes next, and then July […]
Bull Market Pullback: Why The 4.5% Dip Held The 50-DMA
Key Takeaways Two weeks ago, after the S&P 500 logged its ninth consecutive weekly gain, we discussed that a bull market pullback was coming. It came. From the May 27 record near 7,621, the index slid 4.5% and bottomed almost […]
Equity Supply Surge: What Historically Comes Next
This past week, the market hit an all-time high. At the same time, Alphabet (GOOG) told investors it would raise $80 billion by selling stock to fund its AI buildout, and the shares fell about 4% on the news. Within days, […]
Risk Management For Retirees: When To Reduce Exposure
Last week, a viewer of the Morning Show emailed me about risk management for retirees. He asked the single most important question retirees face, and rarely get a straight answer to. “From an already retired perspective, and as one whose […]
15 Investing Rules To Win The Long-Game
The rather “Pavlovian” response to Central Bank interventions has led investors into a false sense of security with respect to the risk being undertaken. Here are the 15-investing rules to win the long-game.