Markets were jolted late after news broke that the US Department of Justice had served grand jury subpoenas to the Federal Reserve over renovations at its headquarters. Jerome Powell responded with a terse statement, rejecting the allegations outright and calling them a “pretext” rooted in dissatisfaction with the Fed’s interest-rate policy. Markets did not wait…

Why are we always looking for a dollar crash? From time to time, the same prediction resurfaces: the US dollar is about to collapse. Sometimes it is because of debt. Sometimes deficits. Sometimes geopolitics. Occasionally, astrology. Sometimes, the forecast escalates quickly from a weaker dollar to the collapse of America itself. Lately, a number of…

This framework emerged during a recent conversation with a new partner, one of those discussions that begins with portfolio construction and quietly drifts into philosophy, usually without anyone quite noticing when the transition happens. It struck me that investors tend to fall into two broad camps: the physicist and the biologist. The physicist believes markets…

Well, setting New Year’s resolutions is like signing up for a gym membership in January. It is a bold move but sticking to it can feel like an Olympic sport. The trick is not just about starting strong, it is about staying persistent and flexible enough to adapt when life throws curveballs. So why not…

Trading has a way of reminding us politely at first, then aggressively that experience is not a force field. Even highly seasoned professionals get humbled. If trading were easy, everyone would be retired by now, preferably somewhere warm, arguing about which year they almost nailed the top. I came across the following comment from a…