146 results found
Invest
Lately, it seems like you can’t open a financial publication without stumbling across another article declaring the 60/40 portfolio dead. The pitch is everywhere: bonds are broken, the old rules no longer apply, and investors should modernize by swapping the bonds in their portfolio for Bitcoin, gold, or whatever alternative the asset management industry is […]
Invest
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 in real time, the bubble couldn’t form in the first place. That paradox is why […]
Newsletter
The melt-up finally took a breather. After nine straight winning weeks, the S&P 500 closed lower, finishing Friday at 7,384, down about 2.6% on the week and roughly 3% below Tuesday's record high of 7,609.78. The headline number buries the real story, because underneath it the market staged the sharpest rotation we've seen all year, with the Dow Jones Industrial Average tearing to a fresh record near 51,562 on Thursday even as the Nasdaq logged its worst day in nearly eight months. So the tape didn't fall apart. It rotated.
Daily Market Commentary
The headlines surrounding the SpaceX IPO seem mainly focused on how high the stock will go. There is a more important question stemming from the SpaceX IPO and other large deals that few seem to be asking: where will the money come from? SpaceX is targeting a $1.75-$2.00 trillion valuation and a capital raise of […]
Daily Market Commentary
“Never. No. We’re not sellers. We’re only acquiring and holding Bitcoin. That’s our strategy.” — Michael Saylor, Bloomberg, January 2022 Four and a half years later, Strategy’s founder Michael Saylor’s never-sell doctrine is dead. Between May 26 and May 31, Strategy sold 32 Bitcoin for roughly $2.5 million. The transaction is so small in dollar […]
Daily Market Commentary
Robinhood, the financial brokerage company, just introduced an AI credit card agent. The AI credit card agent can scan for the best prices, monitor availability, and make purchases automatically onto your credit card based on your instructions. Instead of spending hours researching and tracking prices and waiting for deals, your credit card agent will do the […]
Newsletter
The headline tape made fresh history. The S&P 500 closed Friday at 7,580.06, finishing up 1.43% on the week and posting its ninth consecutive weekly gain. That's the longest weekly winning streak since 2024, and only the 5th time since 1965 that has occurred. While markets previously saw weakness following such streaks, the 24- and 52-week outcomes were primarily positive, except in 1989.
Economics
The dollar is supposed to be dying. We’ve heard that argument for the better part of a decade, and it’s getting louder, not quieter. The narrative goes that BRICS countries are building an alternative, that China is dumping Treasuries, that gold is replacing the dollar as the world’s reserve asset, and that Washington is so […]
Newsletter
Last week, we noted that after the sharpest rally since May 2025, a correction was likely. Notably, those corrections come in two forms: a price pullback or a sideways consolidation. We got the latter. The S&P 500 churned between roughly 7,080 and 7,140 for most of the week. But Friday, did make a push to all-time highs. That kind of tight, high-level consolidation following an explosive move is technically constructive. Historically, it suggests the market is digesting gains rather than distributing them.