We gave a little back today, off by 56bps after an early jump and what looked like was going to be another scorcher. But that didn’t pan out and we ought to not think about the reasons as to why, mind you, stocks go down for a day, perhaps two. I am surrounded by traders,...Read More

Much of what we do is a guessing game based upon news events and reading the tea leaves. The news today of NVDA investing $100b into OpenAI, who will then in turn buy more chips from them, cannot be understated. This, effectively, hastens the pace at which OpenAI is going to grow and develop models....Read More