Wall Street has been on quite a ride since April, with the S&P 500 up more than 25% and the Nasdaq surging over 33%. Stocks continue to price in growth, resilience, and innovation, even as the underlying economy quietly drifts toward fatigue. Things were getting a little too easy. Strong earnings deserve credit but the…
Survey Monday
Amid persistent enthusiasm for US and emerging market equities, gold has extended its run as one of the top-performing asset classes into 2025, building on a stellar showing in 2024. So, is it too late to buy gold? Right now, the crowd seems split from my discussion with people. Some are sitting on zero gold,…
K-Pop, demons, and hidden market leaders
K-Pop Demon Hunters is a global home run. It is now Netflix’s most-viewed animated film and the second-most viewed movie overall. I watched the whole thing and you know what? It is actually pretty good. Open Netflix right now, and odds are you will see a recommendation for something called K-Pop Demon Hunters. Unless you…
When charts speak louder than words
We have all heard the saying, “A picture is worth a thousand words.” In the markets, it might be worth even more. A single wild chart can say what paragraphs cannot. There are no guarantees here. No “musts,” no “nevers.” The market does not follow our logic. It is not obligated to match our models…
Markets, mood swings and maybe the weather
Yesterday was a busy one with back-to-back meetings with investors and partners. We covered just about everything under the sun. Well, the battle for the Fed, Powell’s next move, Wall Street’s mood swings with my favorite benchmark once again hugging its all-time high, gold’s shine, and of course, the US dollar. Oh yeah, equity investors,…