“Revenues grew at a much faster rate than expenses,” Brian Moynihan said Wednesday morning, in
Category: Markets
You Buy Bubbles, You Don’t Short Them
This isn’t investment advice, but for the hundred millionth time: You don’t short bubbles, you
Parsing The Nuance Of Goldman’s Record Quarter
You already knew it was going to be a decent quarter for Goldman. Dealmaking’s back
JPMorgan Beats On Nearly Everything. Dimon Says Prepared For Literally Anything.
JPMorgan kicked off big bank earnings Tuesday with a top-line beat, a bottom-line beat and
TACO Alpha
TACO. Who wants TACOs? I’m referring, of course, to the acronym for “Trump Always Chickens
Beware The Jabberwock
“These things have gotten so complex you need the whole thing,” Sam Altman said Monday,
Gold To $6,000?
Gold bulls, like Bitcoin bulls, tend to be an excitable bunch prone to wild extrapolation.
China Hits Back At Trump, Risking New Escalation Phase
World peace. That’s why China had to institute new, sweeping controls on exports of rare
Well, Hello Bear!
As a previously bulletproof equity market careened lower into the US afternoon on Friday, CNBC
‘Sinister,’ ‘Hostile’ Moves
Somebody’s mad about being snubbed for the Nobel Peace Prize. Donald Trump on Friday lost
The Dollar: Back From The Dead?
Don’t look now, but the dollar’s on the cusp of its best week in nearly
Just Another Tech Bubble Article
The good news is, the rally in tech stocks is “justified.” That’s also the bad
How AI Spending Could Rob Stocks Of Their Biggest Buyer
This’ll be a bit repetitive, but that’s fine because it’s important, and there’s a tie-in
A Half-Trillion Dollar Sell Flow (Hypothetically)
Things better stay calm. If you’re looking for a four-word summary of everything I’ve written
Apples, Oranges And The AI Bubble
I don’t love charts that purport to compare apples and oranges. I say “purport” because
Albert Edwards Explains ‘Batsh-t’ Precious Metals Rally
“Batshit crazy.” That’s me. Ask around. Somebody, somewhere will emphatically attest. But in 2025 I’m
Gold’s Moment
Gold’s having a moment. Spot prices cleared $4,000 on Wednesday, green-lighting another round of mostly
Margin For Error
I guess I have to mention Oracle. Right? I mean, you can’t harp on potential
Schrödinger’s Equities Vol
What do you get when you combine moribund trailing realized vol with recently firmer implied
Justifiable Propaganda
I’m hittin’ the “bubble” theme pretty hard lately. Some of you are probably tired of
Chip Chasin’
They’re chasin’ it. The rally, I mean. If that sounds like a familiar opener (“Do
Hype Machine Volume: 11
OpenAI. Ever heard of it? The funny thing is, most people hadn’t until not so
Gold, Bitcoin And Breaching The Laugh Threshold
We might’ve (b)reached the “laugh threshold.” During the pandemic, I was a staunch defender of
Remember Nvidia?
In an October 4 piece for Bloomberg, Seth Fiegerman and Carmen Reinicke wrote, of the
Why The Stock Bubble Might Not Pop. Yet.
Why do cycles die? There are a lot of possible (plausible) answers, but one of
How The Stock Melt-Up Dies. Or Not.
I suppose it’s just as well we’re not getting a US jobs report on Friday.
‘By Far The Largest On Record’ (Bubble Tickets)
They’re grabbing for upside. Or buying lottery tickets. Or they’re just keen to ride a

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