Nov 10, 2025
I recently penned an article on "Money Supply Growth," which elicited a very thoughtful response from Garrett Baldwin via Substack.
Nov 3, 2025
In case you haven't heard, precious metals, particularly gold, have risen sharply this year. Of course, whenever any asset class experiences a more speculative melt-up, investors are quick to rationalize why "this time is different."
Oct 27, 2025
Recently, MarketWatch ran a provocative headline: "When the world's largest asset manager and the Bond King both agree: Run to gold, silver, and bitcoin."
Oct 21, 2025
Every market cycle eventually changes investor psychology to believe risk has been conquered.
Oct 13, 2025
Over the past three years, the economic conversation has been a "promised recession." If you read the headlines, tracked economist surveys, or even listened to Wall Street strategists, you would have assumed a downturn was imminent.
Oct 13, 2025
If you want to understand where we are in the cycle, skip the noise and follow profits. Corporate profits are the lifeblood of investment, hiring, and market returns.
Sep 29, 2025
Lately, there's been a growing sense of confidence among investors that the U.S. economy has dodged the proverbial bullet. Despite a historic rate-hiking cycle by the Federal Reserve, two years of stubborn inflation, and signs of strain in global trade, the dominant Wall...
Sep 22, 2025
Just recently, Scott Rubner of Citadel Securities wrote an excellent piece discussing the bull versus the bear case for the markets.