Last night futures plunged lower by 170bps based off varying factors, namely the collapse in BTC and metals. This was never a reason to sell off. I was much more concerned with the revelations in the Epstein files than the price of gold. But that’s for another post.I started to consolidate around some positions today,...Read More

At the very core of what a bubble is is valuation expansion. A stock that normally trades at 20x earnings or sales gets re-rated to 30x based off exuberance. Let’s take a look at notable 1yr returns vs EPS growth.stock / 1 yr return / eps growth TTMNVDA +53%, +64% (contraction)GOOGL +64%, +34% (expansion)AAPL +9%,...Read More