Last month investors clamored for the shares of highly priced growth stocks. As of yesterday, they eschewed them as if they were the plague and sold them off in what seemed like interminable bearishness. While I do not have access to the future yet (my time machine is still in the shop), I do recognize...Read More

It was a very good speech, let me tell ya — perhaps the best speech ever.This sums is up:Markets are liking it, with NASDAQ futs +165. Interesting side note regarding the end of day CRASHING of the close. I told Mrs Fly about it, how terrible it was. I told her “it was the worst...Read More

Lads, LadiesWe are going to be all right. What a wild session. We were positioned smartly, at least I thought so, with 6.5% TZA, 10.5% old man stocks, 15% cash and lots of solid financials. At the onset of trade this morning, they treated the finnies as if they were AI plays. We had 10%+...Read More

Markets got routed into the afternoon after Trump, once again, reminded us of his big beautiful tariffs, lighting an absolute fire to the NASDAQ, as it sunk lower by 2.64%, the SPY -1.7%. Thanks to some derisking and TZA hedge, we managed to lose 1.36%.The other side of the risk spectrum was high beta stocks,...Read More

At this point in the economic cycle, investors seem much more concerned with growth than AI, lending credence to this narrative is how this morning’s rally dissipated once today’s ISM data came out a little worse than expected. The net result was bond yields up and stocks soft. Altanta’s GDPNOW also revised their GDP estimate...Read More