Some lessons you only learn the hard way. This was definitely one of them for me. For years I spent far too much time analyzing every little wiggle in the S&P 500. Every squiggle. Every minor breakout. Every fake breakdown.…
The S&P 500 is less than 3% away from a new all-time closing high. But when you zoom out, the index is sitting at roughly the same level it was five months ago. In other words, the benchmark for U.S.…
Everyone thinks it’s all over for the “Magnificent Seven.” The bull market is finished. The crash is coming. That’s the narrative making the rounds right now. It reminds me of Fred Sanford grabbing his chest and yelling, “This is the…
I spend a lot of time talking about markets. That comes with the territory. It happens every day whether I plan for it or not. Sometimes it’s a conversation with a colleague on the phone or through text. Other times…
Changes in asset prices are not random. Let that sink in for a moment. To someone new to markets, the constant ups and downs in stocks, bitcoin, commodities, and currencies can look like chaos. Prices jump around all day, every…
There are certain moments in life that stick with you forever. This was one of them. It was 2005. I was 23 years old, and I didn’t know anything. And the truth is, that scared me. There were guys in…
Sometimes I come across something so good that I feel obligated to make sure you don’t miss it. Many of you have been reading Everybody’s Wrong since we launched about a year ago, and I want you to know how…
One of the questions I get all the time is some version of this: “JC, how did you know that consolidation would resolve higher?” Or “JC, how did you know that breakout would fail?” Sometimes people will point out a…
After 23 years in this business, if you learn anything at all, it’s this: Keep an open mind. Not because it sounds good. Not because it’s philosophical. But because markets will embarrass anyone who thinks they have it all figured…
I was good at pop flies. Not a lot of things came easy to me on those baseball fields in Miami in the 1980s and ’90s. I wasn’t the biggest. I wasn’t the strongest. I certainly wasn’t the fastest. But…
Are you actually adapting to this market? Or are you still running the same playbook that worked a year or two ago? I ask myself that constantly. Are we positioning for what’s likely to drive returns three, six, nine months…
February is in the books, and it just delivered one of the most impressive displays of underlying strength we’ve seen in this cycle. Seasonally, this is supposed to be one of the weakest months of the year for equities. In…
