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…
This whole idea that “it’s a stock picker’s market” has always made me laugh. As opposed to what exactly? When was it ever not a stock picker’s market? We’re not trading one thing. We’re dealing with a market made up…
Someone, somewhere a long time ago told people the goal is to “buy low and sell high.” Sounds great. Also sounds like a good way to spend your life guessing. Because think about what that actually requires. To buy low,…
There are only a few days left in the month, and before you know it we’ll be in May. The kids will be out of school, and summer is in the air. This is as good a time as any…
This is how I get perspective… Maybe even to a fault. I don’t even know. Someone I respect a lot told me recently that he doesn’t look at market cap at all. Not even a little. It almost broke my…
