The Legacy Trap
What's really behind Powell's rate cut hesitation? The answer isn't found in employment statistics or inflation readings.
The Ghost of Bubbles Past
A tale of two bubbles, separated by 25 years and united by the same spectacular blindness to efficiency.
The Hidden Asian Dragon
The combination of reasonable valuations relative to growth prospects, ongoing recovery in Asian economies, and potential currency tailwinds creates multiple drivers for Asian outperformance.
Soaring Bitcoin, Hidden Leverage
As Bitcoin carves new all-time highs, the market is celebrating corporate treasuries embracing crypto. Are we witnessing the democratization of finance—or the final stage of a market cycle built on flywheel leverage?
The Magnificent Few
The whole S&P 500 market rally is being carried by a handful of mega-cap names while 90-95% of stocks are just sitting there. When only 5% of stocks drive index performance while economic fundamentals show early warning signs, it's worth considering hedges.