Everybody’s Wrong

One of the things we all learn the hard way — in life and in markets — is to stop doing what isn’t working and double down on what is. Feel like garbage the next morning because you drank too…

The S&P 500 just delivered back-to-back years of 20%-plus returns — and it’s on pace to make it three in a row in 2025. Meanwhile, the Nasdaq-100 has more than doubled during this stretch. So using even the most basic…

The U.S. stock market makes up less than half of the $127 trillion global equity market. Which means the majority — more than $60 trillion in value — comes from companies headquartered outside the United States. Fifty years ago, maybe…

I understand fundamentals just fine. I just don’t use them. I’ve been doing this every single day since I was 21. I’ll be 44 in a couple of months. If I genuinely believed digging through corporate balance sheets was the…

Founder’s Note: Senior Analyst Jason Perz knows how to work through the hardest parts of what we do. He’s particularly good at taking big ideas and turning them into digestible morsels. Here’s Jason with a great piece on what it…

A funny thing happened this week: The Dow Jones Industrial Average closed at its highest level in nearly 130 years. And it’s not just the U.S. putting up records. Europe and Japan are hitting new all-time highs. Latin America and…

Silver just clocked another all-time high this morning. And if you’re anything like me, you’re probably asking the same question: Is this breakout for real, or is it just another fake-out? To answer that, we need to shift our perspective…

The Dow Jones Industrial Average just closed at its highest level in history. Think about that for a second. This is an index that dates back to May 26, 1896. And of all the trading days since then, yesterday was…