I’ve talked a lot recently about… well, about everything. That’s what I do: Talk all
Category: Markets
As Summer Stock Melt-Up Crescendos, Is It Time For Caution?
Well, I told you so. I dare say I’ve trafficked in more bullish equity banter
‘Hard Landing’ Is Passé For Pros
Fund managers are the most bullish since “Liberation Day” was just a bad idea competing
Bull Markets, Dog Days
Don’t fight it. The stock melt-up, I mean. It’s a losing battle. At least until
Not The Gold!
An under-appreciated aspect of policymaking in any Trump administration is the (I think incontrovertible) fact
Tariff Fatigue
Donald Trump’s latest and “greatest” tariffs kicked in Thursday. By now, who cares? “What difference,
BoE Makes History With Most Confused Policy Decision Ever
The Bank of England carried on Thursday with what’s now among the longest easing cycles
Railroads!
Here’s something you might ask if you wanted to justify the swollen market-caps of America’s
August Bulls
Historically, September sucks for stocks. The good news is, it’s not September. Yet. It will
‘Get Ready For Stocks To Drop’?
The most read story on Bloomberg as of 8 PM ET on Monday was called
Fake Beats
The beats aren’t real! Shouted anybody and everybody, with 65% or so of the S&P
If Nobody Sees It, It Didn’t Happen
If a tree falls in the forest and nobody’s around to hear it, does it
‘This Is Fine’
The good news is, America’s premier statistics agency will prove impervious to Donald Trump’s worst
Matters Of The Utmost Concern
I’m as exhausted with narrow market laments — the jeremiads of disgruntled bears citing “extreme
Buffett’s Junk Food Write-Down (And Other Berkshire Snackables)
Berkshire reported “earnings” on Saturday, and I gotta say: The report seemed underwhelming. That evaluation
DROP THE RATE!
The sky’s falling. It fell this time last year too. Parallels between this week and
Apple Impresses. Amazon Worries With Profit Guide
Amazon topped estimates and guided ahead of the Street for current-quarter sales, but I don’t
Meta, Microsoft Deliver Blowout Quarters
Q2 2025 (it’s actually Q4 for the company’s fiscal year) was Microsoft’s 50th anniversary. The
No Surrender
A “reasonable base case” for tariffs is that their impact on US inflation is a
Fed Keeps Rates On Hold. Waller, Bowman Dissent
The Fed kept rates on hold Wednesday, as expected, and much to Donald Trump’s chagrin.
A $125 Billion Mechanical Bull
Over the past six or so weeks, I’ve been on at length about re-allocation flows
Bubble-Spotters
Everyone knows the problem with bubble pronouncements, right? If not, it’s simple: Declaring risk assets
Fundamentally Speaking…
I’m going to dwell, for another beat, on the fundamentals. How quaint, right? First thing
Gosh, It’s Good To Be A Corporate
At the risk of jinxing things (there’s no such risk; superstition’s for the mentally desperate)
Dissent(s) Ahoy!
It’s tempting to say there’s no chance of a Fed cut at what, whether anyone
From Melt-Up To Bubble Watch
It’s fair to say the melt-up materialized. That’d be the equity melt-up I spent the
Before The Fall, A Blow-Off Top?
Are US equities approaching a “blow-off” top ahead of the traditional late-summer vol expansion and
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