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 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.
Wall Street's most reliable pattern: How following the money and its impact on demand beats forecasting demand in a world obsessed with narratives.
The American economy isn’t collapsing — it’s evolving. Higher debt, persistent inflation, and structural shifts like tariffs and remote work are creating a new system. But financial markets are still priced for the old one — and that’s where the real risk lies.
I’ve been spending more time trading Bitcoin — and obsessing over charts that probably don’t belong in this newsletter. So I’ve spun it off.