The Market Is Cracking
The S&P 500 closed just 9 points above its 200 DMA on Wednesday – a level it hasn’t traded below since mid-May 2025. The Magnificent 7 that have led this bull market since October 2022 are -8.73% YTD. The Equal…
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Office REITs May Be The Best Value In The Market
I was lucky to catch an interview on Bloomberg early this morning while I was eating breakfast with Thomas Kennedy, JP Morgan Asset Management Head of Real Estate Strategy. What I especially liked is that he wasn’t wishy washy like…
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The Permabulls and Iran
On Monday, the market proved Michael Burry’s claim that this is the greatest buy the dip generation in history. Unconcerned with all the unknowns about how the situation in Iran will play out, the permabulls bought the opening dip and…
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Beneath The Surface The Market Is Showing Signs Of A Top
While the S&P is only about 2% off its all time highs, beneath the surface the market is showing signs of a top. Warren Pies tweeted today that there have only been two other times when Consumer Staples and Energy…
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FRPT: Thinking Long Term To Beat Wall Street
Freshpet (FRPT), a $4 billion dollar dog food maker, just reported 4Q25 earnings and the stock is down almost 4% in reaction. But I liked the report and the reaction doesn’t bother me at all. That’s because while Wall Street…
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The Precious Metals Bull Market Is Just Getting Started
The recent nasty selloff in silver caused many to conclude that the bull market in precious metals has topped out. An analysis of the fundamentals shows that this couldn’t be further from the truth. In reality, the precious metals bull…
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Mr. Market Is Having A Moment: Some Stocks Are Absurdly Expensive While Others Are Absurdly Cheap
Mr. Market is having a moment. He is in love with certain stocks and has bid them up to absurd valuations. On the other hand, he has come to the conclusion that software stocks are doomed by AI and thrown…
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Making Peace With My Father’s Rejection
One of the more difficult parts of my life has been my relationship with my Father. Born on November 22, 1942 in the Bronx, NY, my Father grew up poor and dreamed of one day being a great success. Determined…
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Maria Konnikova On The Art Of Poker
It is the mark of an educated man to look for precision in each class of things just so far as the nature of the subject admits; it is evidently equally foolish to accept probable reasoning from a mathematician and…
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Becoming A Winner
There are two aspects to becoming a winner: the attainment of mastery and the belief that one can win and succeed. You can win without mastery but that is unrepeatable luck. Being a winner is the combination of mastery and…
