Newsletter

Bonds only diversify under low inflation. Japanese earnings almost 2x the US. The MMT inflation train. Central banks load up on gold. AI demands power.

The bond trade hasn’t played out. S&P 500 is down in terms of gold. Manager allocates 70% of its AUM to cash. Bitcoin is 3x-levered NASDAQ. Fast food outpaces inflation.

US CPI higher than expected. Yen records a 34-year low against US$. Tech sits on loads of cash. Go green, go nuclear. Work brings meaning.

China is picking up. New ATHs for gold. US halts SPR refill. S&P 493 picking up on Mag 7. Top talent still moves to the US.

Fed has US$1trn in unrealized losses. The 2nd wave of inflation. China is buying gold. Japan’s 34-year drawdown is rookie numbers. Daniel Kahneman has left us.

BoJ moves to positive rates. QE since 2008. We’re quickly getting poorer. Emerging markets go with coal. Market volatility is a fee.

US CPI higher than expected. US inflation has stayed above 3%. S&P 500 hitting new ATHs. Invest in uncovered stocks. Top 100 investment books.

Sh*tcoins are back. Bonds can be risky, too. Gold records new ATH. Go woke, go broke. Less corruption, higher GDP/per capita.

Valuations matter, or do they?. Bitcoin back above $60K. Bitcoin ETFs attract billions. Shitcoin or Real estate?. The woke Gemini.

The top 10% is 75% of the market. Market concentration got Druck out in 1987. Investors remain bullish. BoA says the market can run further. 9.5 weeks to balance the government budget.