Fundamentals are strengthening – strong earnings and margins significantly improving and the market is beginning to recognize it. AI is

“The most important rule of trading is to play great defense, not great offense.” Paul Tudor Jones Situational Awareness (one

Investing has never been about predicting the future with certainty. At its core, it is about pricing uncertainty, expected value,

This is the same story as the dispersion chart, told backwards. Implied correlation is near the lows. That means the

Everyone tells the human-machine merger from our side. What we gain. Memory, strength, longer life. Asimov told it from the

Everyone usually tells the human-machine merger from our side: memory, strength, longevity, and expanded capability. Asimov told it from the

The average midterm year bottoms at the end of June. Which means the payoff everyone quotes sits on the other

An index can hold up while an individual portfolio falls because averages conceal dispersion. A handful of large names, sectors,

Good reminder to ZOOM OUT! Monthly Chart -> Zoom out and every drawdown reads as consolidation. That’s fine if you’re

Every generation thinks its crisis is unprecedented. Every generation is wrong about that part. The names change: inflation, debt, war,

Every generation thinks its crisis is unprecedented because it experiences the uncertainty firsthand. The details are always different, but markets