A lot of people think Berkshire Hathaway (BRK.B) is just Warren Buffett sitting on a mountain of cash making boring investments. But Berkshire is actually the biggest stock in the entire S&P Financials Index. Not JPMorgan Chase (JPM). Not Goldman…
I spend a lot of time looking at charts every week. After doing this for more than two decades, I’ve learned which ones deserve a closer look. Most of them just blend together after a while. Some look constructive. Some…
I was at a birthday party last week when someone confidently explained to me that only “a handful of AI stocks” are responsible for this entire market going up. And without those stocks, apparently we’d already be in a recession.…
Last week, I was on the phone with my friend. We’ll call him Marky. Marky tells me he’s been shorting the stock market in recent days. More specifically, he’s been shorting the Nasdaq 100 as it keeps making fresh all-time…
The market just wrapped up April with the S&P 500 at fresh all-time highs. Same thing for the Nasdaq 100, the Dow, mid caps, small caps, even the tiny little micro-caps nobody pays attention to. That’s not what a weak…
One of the biggest mistakes investors make is forgetting the most important characteristic of asset prices: They trend. Not sometimes. Not when the Fed says so. Not when valuations look attractive. Just structurally, over time, asset prices trend. We’ve got…
I get asked all the time why I’m willing to share so much about my strategies, my process, and all my portfolio decisions. And the answer is simple: Why wouldn’t I? I came up in this business a little differently…
Long-term interest rates are back to where they were just before the 2007 peak that led into the Great Financial Crisis. The yield on the 30-year Treasury bond is now above 5% and knocking on the door of fresh 18-year…
One thing you learn pretty quickly in markets is that you can’t trust much. Wall Street analysts build careers being wrong. Economists somehow manage to be worse. Journalists aren’t even trying to get it right. They’re trying to tell stories.…
It’s funny the things you catch yourself saying out loud. Most investors spend their entire lives chasing income. Dividends, yields, monthly checks. That’s the goal. Not me. You can keep your dividends. I don’t even want them. I’m here for…
If you know anything about me by now, it’s how I feel about the end of the month. Not because of the calendar or some arbitrary reset. Because markets move in trends. Not opinions, not narratives. Price trends. And if…
If you know football at all, you’ve seen it. Big games don’t always come down to the stars on offense or defense. Sometimes it’s a return, a blocked kick, a mistake on special teams that flips everything. That one play…
