Knock On Wood
The earliest price action of 2023 in US equities found two growth heavyweights under pressure,
The Growth Stock Bubble Finally Burst
It’s no secret that 2022 was a veritable disaster for growth stocks. Scores of investors
Recompense
At this rate, the Weimar jokes may be out of fashion by the end of
2023 Orientation Day
The first work day of the new year began with a deluge of notes and
Burning Questions
Nothing says “pile into stocks” like piles of corpses. Don’t blame me for the macabre
Lost Down There
I’m supposed to care about Tesla deliveries, and you are too. There was a time
When Bad Counts As Optimistic
What’s worth highlighting when nothing’s worth highlighting? That’s a question I grapple with during long
If 2023 Brings A US Recession, Don’t Expect Congress To Help
I thought this was obvious, but apparently not: The prospects of fiscal measures to bolster
No, Michael Burry Didn’t Say The US Is In A Recession
Michael Burry kicked off the new year with a prediction. “Inflation peaked. But it is
New Year’s Resolutions
Vladimir Putin sent dozens of Iranian drones into Ukraine on New Year’s Eve and into
Fed Starts 2023 With ‘Long Way To Go’ On Key Metric
By the end of the first week of the rest of our lives, we’ll have
Back To Business
It’ll be back to something like business as usual in the new week, when traders
China’s Reopening Bust Laid Bare By Disastrous Data
Guess what? China’s decision to roll back strict pandemic curbs didn’t lead to a surge
The Rebirth Of The American Subject
With time, America has become a country with vanishingly few paths out of poverty (or
The Marvelous Stupidity Of The US Debt-Ceiling Debate
I have a very difficult time countenancing the debt-limit debate as it manifests in soundbites
V.P. Phone Home
“We share the same views on the causes, course and logic of the ongoing transformation
Local Genius Loses $140 Billion In ‘Stock Market Craziness’
It’s been a tumultuous and, I imagine, frustrating, year for Tesla shareholders. Getting into Tesla
Double-Edged Swords
Seemingly everything is a double-edged sword these days from a macro perspective. More to the
Good Copy, Bad Copy
Copy for the sake of it. I’m not a fan. Noteworthy market news was sparse
No Surrender, No Peace
Two days ago, Sergei Lavrov told Russian state media that Ukraine should surrender for its
Click Monsters
“It was a click monster.” I cringed, but she couldn’t see me since we communicated
Disconcerting Déjà Vu
China’s grand reopening after three years of government-imposed isolation was supposed to save the global
Results Pending, Hope Floats
I doubt anyone needed additional evidence to support the contention that the US housing market
‘Placeholders For When Something Goes Wrong’
There are a laundry list of reasons to cast a wary eye at the rate
US Home Prices Won’t Go Gentle Into That Good Night
Data released on Tuesday underscored both the impact of the Fed’s ongoing quest to extinguish
Goldman’s ‘Most Out-Of-Consensus Call’ For 2023
Goldman’s most out-of-consensus call for 2023 is arguably their most important. Generally speaking, economists and
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