To the Moon and Back

To the Moon and Back

Monday, August 24 Earnings season is here again, with banks first reporting blowout earnings. The outperformance was driven by investment banking, specifically fees related to the SpaceX initial public offering. JP Morgan Chase had a record quarterly profit – $21...
Margin Calls Often Lead to Overbought Conditions

Margin Calls Often Lead to Overbought Conditions

Monday, August 17 A month after the dot-com bubble back in 2000, the market sent a warning shot. It was April 2000 and stocks collapsed 10% in five days, falling 6% on the last day alone. The New York Post ran a story about margin calls driving the selloff. The story...
Retail Investor Troubles

Retail Investor Troubles

Monday, August 10 It’s easy to remember how euphoric investors were back in 2021 and 2022. Unfortunately, we’re reaching those levels again today. Stocks were all anyone could talk about as COVID kept people at home and investing their stimulus checks in the...
A Generational Wealth Transfer

A Generational Wealth Transfer

Monday, July 27 Currently, the war in Iran is months old. There’s zero consensus as to when it will truly end. The Strait of Hormuz has been open and closed. And now Treasurys come with an asterisk. Yet despite this unclear economic data, the U.S. consumer...
Loading Up on Gold

Loading Up on Gold

Monday, July 20 There’s been a big change in the world’s reserve asset. In a report earlier this month, the European Central Bank said gold has replaced U.S. Treasurys as the top reserve asset for global central banks. At the end of 2025, gold made up about 27%...