Earlier this month, I endeavored to explain why equities were trading short. It wasn’t complicated
Category: Markets
All Skewed Up
You don’t need to hedge what you don’t own. And vice versa. That simple, axiomatic
A Word (Or 900) On Tesla
Since he stepped down as co-POTUS in April, I lost track of the daily melodrama
Gold Rally Finally Collapses Under Its Own Weight
Earlier this month, when spot gold first cleared $4,000, I gently suggested it was time
Vol Supply Wave Smothered Nascent Stock Selloff
This’ll be a little esoteric for some readers, but that’s ok: Esoterica’s part of the
Much Ado About Idiosyncratic Nothings
I hate to say “I told you so,” but you have to be careful with
Leave The Buybacks, Take The Capex
Buybacks or capex? Cue the knight from The Last Crusade: “You must choose. But choose
Depressed And Bullish
Never mind what they say, watch what they do. You could argue that’s the right
It Must Be A God
Gold. It’s shiny and it looks like the sun. It must be a god. In
Roach Panic
Goddammit, here we go. There’s nothing I despise more as a chronicler of daily macro-market
Yes, Scott, Trump’s Scared Of The Stock Market
The Trump administration’s not going to let a stock market decline get in the way
Morgan Stanley Wins Stock-Trading Bragging Rights With 35% Surge
Morgan Stanley’s supposed to shine in stock trading. It’s tradition. But like the Winter Hill
Boring BofA Just Had A Really Good Quarter
“Revenues grew at a much faster rate than expenses,” Brian Moynihan said Wednesday morning, in
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
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