I’m both a rally skeptic and not. I harbor a deeply-engrained pessimism about more or
Category: Weekly
Weekly: Is The Stock Rally ‘Irrational’?
Six weeks, 17% (intraday low-to-high) on the S&P and 11 new records later (“These go
Weekly: Higher Learning
What have we learned over the past week or two or four? For one thing,
Weekly: Semi-Automatic
The last time the SOX rose 40% in a month, Bill Clinton was president and
Weekly: ‘TDS’ Is Real
“TDS” is a real disorder, even if expanding the initialism suggests the “disease” detectives who
Weekly: Back To Normal
I realize many (most?) readers don’t like this framing, and in a lot of important
Weekly: Hawks, Hawks Everywhere
It was rough out there for investors this week. Again. It’s not a coincidence that
Weekly: War Comes To The US Front-End
The war came home for America this week. Not in the form of any actual
Weekly: Déjà Vu
2022 called. It wants its geostrategic macro zeitgeist back. If you felt the discomfiting twinge
Weekly: Return Of The Roach Panic
This time last week, I conjured October’s “roach” scare in the course of suggesting that
Weekly: Is Blue Owl The Private Credit Canary?
Four months ago, when a couple of bankruptcies in the auto sector riled regional lenders
Weekly: A Wildfire On Wall Street
You wouldn’t know it from the main index levels (“The Dow is over 50,000 dollars!
Weekly: The All-Crushing Claude
This was the week Anthropic took the lead in the AI race. Or at least
Weekly: The Decade Dogma Died
Over the four decades we associate with the onset and perpetuation of shareholder capitalism, hyper-globalization,
Weekly: The Existential Threat To US Treasurys
I’m pretty sanguine about the outlook for risk assets but… BUT. At the end of
Weekly: Fiat Fatigue And A World On Fire (Why Gold Keeps Rising)
The never-ending rally in gold’s no different from any other phenomenon in being unamenable to
Weekly: The Diosdado Cabello Question
Late Friday, Delcy Rodriguez, in her capacity as interim president of Venezuela, said her country’s in
Weekly: Betting On Delcy Rodriguez
Nicolas Maduro could be hanging out in Turkey right now living the good life under
Weekly: It’s Not Brain Surgery
A couple of years ago I received a serious-sounding email from a guy who was
Weekly: Greed Is Good
Investors are closing out 2025 in greed mode. Technically, global stocks were down two consecutive
Weekly: Will Elon Musk, Trillionaire, Be A Wake-Up Call?
I often wonder if there’s an absurdity threshold for American-style capitalism. A boundary which, if
Weekly: Dead End
During his first and, mercifully for Republicans, only, debate with Kamala Harris, Donald Trump famously
Weekly: Scott Bessent Was Lucky
In prepared remarks for this year’s Treausury Market Conference (it’s an annual event co-hosted by
Weekly: The Bitcoin Barometer
Bitcoin tends to peak around blow-off tops for speculative excess. That’s not a coincidence. Whatever
Weekly: Don’t Forget The Fed
The disorienting to-and-fro of momo and meme stocks — and associated fretting over the psychological
Weekly: Is Trump The Dog Who Caught The Car?
A year on from Donald Trump’s reelection, the president who promised a “new golden age”
Weekly: The AI Spending Question
Now we’re supposed to believe investors are newly skeptical of AI spending. Just not at
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