Skip to content
Tuesday, November 03, 2026
Heisenberg Report

Heisenberg Report

Sign In Subscribe
  • Home
  • Markets
  • Economy
  • Politics
  • Weekly
  • Monthly Letters
  • Kitsch Register

Category: Markets

Bitcoin ‘Bleed-Over’

November 24, 2025November 25, 2025

Bitcoin was in the news again Monday. Unfortunately. A couple of days ago, as a

Read More

6 Comments on Bitcoin ‘Bleed-Over’

Google > OpenAI: A Grand Reset Of The AI Chessboard?

November 21, 2025November 23, 2025

If you want to unlock the mysteries of this week’s at times confusing US equities

Read More

8 Comments on Google > OpenAI: A Grand Reset Of The AI Chessboard?

Preach

November 20, 2025November 21, 2025

Ok, I’m gonna to do a little preachin.’ You can take it or leave it,

Read More

18 Comments on Preach

McElligott On Nvidia And The Santa Rally Check List

November 20, 2025November 21, 2025

Nvidia did “the Atlas thing,” Nomura’s Charlie McElligott said Thursday, as a still-nervous US equity

Read More

8 Comments on McElligott On Nvidia And The Santa Rally Check List

‘Everywhere, Everything, All At Once’: Nvidia Blows Away Estimates

November 19, 2025November 20, 2025

Vive la révolution! Nvidia sold some chips last quarter. Quite a few of them, actually.

Read More

5 Comments on ‘Everywhere, Everything, All At Once’: Nvidia Blows Away Estimates

Fed Sounds Biased Against December Rate Cut

November 19, 2025November 20, 2025

Pretty much the only thing everyone agreed on at last month’s FOMC meeting was that

Read More

4 Comments on Fed Sounds Biased Against December Rate Cut

Save The Buybacks!

November 19, 2025November 19, 2025

How important are buybacks? That’s a rhetorical question. The answer, qualitatively, is “very.” If you

Read More

1 Comment on Save The Buybacks!

Wall Street’s Most Famous Bear Suggests This Time’s Different

November 19, 2025November 20, 2025

This time’s different. Don’t get testy with me. I didn’t say it. Rather, it was

Read More

1 Comment on Wall Street’s Most Famous Bear Suggests This Time’s Different

Mike Wilson, Uber-Bull?

November 18, 2025November 19, 2025

For the better part of three years, Morgan Stanley’s Mike Wilson insisted the US economy

Read More

8 Comments on Mike Wilson, Uber-Bull?

Capex And Clickbait

November 18, 2025November 19, 2025

You’ve all seen the chart right? The one about fund managers and capex? If not,

Read More

1 Comment on Capex And Clickbait

McElligott On Stock Churn: ‘Relax’

November 18, 2025November 19, 2025

“Relax, it’s just PNL protection.” That’s what Nomura’s Charlie McElligott had to say Tuesday about

Read More

6 Comments on McElligott On Stock Churn: ‘Relax’

Lowest Cash Levels On Record Shout ‘Sell!’

November 18, 2025November 19, 2025

Late last week, while previewing the November edition of his global fund manager survey, BofA’s

Read More

Leave a Comment on Lowest Cash Levels On Record Shout ‘Sell!’

Back-From-The-Dead Bonds Are Finally Beating Cash

November 17, 2025November 18, 2025

Don’t look now, but US Treasurys are on track for their best year since 2020.

Read More

2 Comments on Back-From-The-Dead Bonds Are Finally Beating Cash

Are C-Suite AI Bulls All Hat And No Cattle?

November 17, 2025November 18, 2025

Nearly two-thirds of S&P 500 companies mentioned AI during their Q3 quarterly analyst calls. Around

Read More

5 Comments on Are C-Suite AI Bulls All Hat And No Cattle?

AI Bubble Fears Morph Into CDS Hysteria

November 17, 2025November 18, 2025

Late last week, I wrote about the hullabaloo over Oracle’s credit default swaps. The overarching

Read More

2 Comments on AI Bubble Fears Morph Into CDS Hysteria

The ‘Best Short’

November 14, 2025November 16, 2025

There’s a new big short. Or “best short.” Somebody call Michael Burry and tell him

Read More

1 Comment on The ‘Best Short’

The Crash Everyone Saw Coming

November 13, 2025November 15, 2025

The ubiquity of AI bubble narratives and, more to the point, the incisiveness with which

Read More

12 Comments on The Crash Everyone Saw Coming

Local Short-Seller Deregisters Fund. Tomatoes Thrown

November 13, 2025November 14, 2025

Michael Burry hasn’t been “in sync with the markets” for quite “some time.” That’s according

Read More

3 Comments on Local Short-Seller Deregisters Fund. Tomatoes Thrown

Big-Tech > US Government

November 12, 2025November 13, 2025

One under-appreciated aspect of what’s quickly becoming the grandest market debate of our time —

Read More

5 Comments on Big-Tech > US Government

Michael Burry, The Hyper-Scalers And A $176 Billion ‘Fraud’

November 11, 2025November 12, 2025

I’m avowedly not a Michael Burry fan. Most of you know that. He’s crazy, and

Read More

12 Comments on Michael Burry, The Hyper-Scalers And A $176 Billion ‘Fraud’

A Word On CoreWeave…

November 11, 2025November 12, 2025

If you’re not familiar with CoreWeave by now, you need to remedy that situation posthaste,

Read More

9 Comments on A Word On CoreWeave…

How To Be A Contrarian

November 10, 2025November 11, 2025

Do you fancy yourself a contrarian? Of course you do. Just like everyone else who

Read More

2 Comments on How To Be A Contrarian

Leveraged Buildout

November 7, 2025November 10, 2025

Last weekend, I noted that it’s not realistic to expect America’s largest hyper-scalers to fund

Read More

4 Comments on Leveraged Buildout

Should Taxpayers Preemptively Bail Out OpenAI?

November 6, 2025November 8, 2025

We’ve come too far, there’s too much to lose!  — Frank Ricard As questions mount

Read More

35 Comments on Should Taxpayers Preemptively Bail Out OpenAI?

BoE Gambles On Inflation Ebb With Dovish Pivot

November 6, 2025November 7, 2025

Bank of England policy decisions are comedic these days. I’m not sure I’ve ever seen

Read More

Leave a Comment on BoE Gambles On Inflation Ebb With Dovish Pivot

Treasury Tweaks Coupon Auction Guidance First Time Since Yellen

November 5, 2025November 6, 2025

For the first time since Janet Yellen inaugurated conciliatory language to placate an irritable market

Read More

6 Comments on Treasury Tweaks Coupon Auction Guidance First Time Since Yellen

The Underappreciated Impact Of Leveraged Stock ETFs

November 4, 2025November 5, 2025

Occasionally, you’ll see a mainstream financial media article about leveraged ETFs, but such pieces are

Read More

7 Comments on The Underappreciated Impact Of Leveraged Stock ETFs

Posts pagination

Previous 1 … 17 18 19 … 314 Next

Monthly Letter

  • The Arbitrageur

Recent Comments

  • SeaTurtle on The Capex Catch-22
  • Wave Dash on Someone’s Got Work For You
  • T-Dog on The Capex Catch-22
  • T-Dog on Debbie Downers Amid The Renaissance

Monthly Letters

The Arbitrageur

October 29, 2026October 29, 2026

To Be Happy

September 4, 2026September 4, 2026

Hell Or High Fashion

July 3, 2026July 3, 2026

Questions, tips or inquiries of any kind: [email protected]

Privacy Policy & Cookies

About Us

Subscription FAQs

All Rights Reserved 2026.

Upgrade your subscription

Join institutional investors, analysts and strategists from the world's largest banks
Subscribe now for just $7

Already a subscriber? Log in here

Loading Comments...

You must be logged in to post a comment.