Excess Returns

Rates Are Spiking. The S&P Is One Big AI Bet. What If Your Biggest Risk Is What You Don't Own?

Jobs Look Strong. Workers Are Disappearing | Why Eric Pachman is Watching Diesel Prices

They Quote Buffett. They Never Read Graham | Gary Mishuris on What Investors Get Wrong About Legends

He Lost $157,000 in 3 Minutes | Jack Raines on the Lesson Winning Never Taught Him

The "Permabear" Holds 50% Stocks. 7 Sectors Barely Grew. What If Stocks Stop Carrying the Economy?

The AI Gap Is Closing | Jason Hsu on China, Momentum Crashes and the S&P’s Seven-Stock Bet

Inflation Falls When Stocks Do | Andy Constan on the Fed Hike, AI Capex and Why He Likes Bonds Again

David Rosenberg on Why He Wants the Bonds Everyone Hates — and Where He's Hiding in Stocks

Franklin Templeton CEO Jenny Johnson on AI, Private Markets, and the Hidden Risks in Index Funds

The List Is Public. It Still Outperformed For 28 Years | Alex Edmans on What Markets Don't Measure

The Moats Are Invisible. So Is the Risk in Your Bond Fund. What Else Can't You See?

Jim Paulsen Sees a Tech Bear Market Coming | The 27 Charts Behind His Warning for Stocks

We Asked Fidelity's Ex-President What Made Peter Lynch Great — and Where Private Credit Risk Hides

We Asked a 20-Year Options Trader What Happens When Rising Rates and Oil Meet a Massive OPEX

The 40-Year Bond Bull Is Over. Your 60/40 Didn't Get the Memo | The Bet Hiding in Your Bond Fund

All-In on the S&P 500 Worked for 18 Years | Jared Dillian on Why It's Still Wrong

The AI Demand Is Real. The Accounting Games Are Growing. How Long Can Both Be True?

Buffett's Mistakes Had One Cause | The 100 Year Thinkers on the Hardest Part of Holding Forever

Nvidia Is Betting on Its Customers. Gen Z Is Betting on Sports. Will It All Unwind the Same Way?

Bearish Into November. Room to Run After: Why Dan Niles Is Watching Hyperscaler Credit Default Swaps

Rates Can't Spike. Data Centers Can't Fail. Why Ben Hunt is Watching the Fed Narrative Collapse

The Panic Is in Bonds. The Risk Is in Earnings. Are You Watching the Wrong Market?

Inflation Is Rising. Stocks Aren’t Breaking. What If Markets Already Know?

The Profits Come Now. The Costs Come Later. What If AI Earnings Are the Bubble?

Private Equity Chased Software. Big Tech Is Chasing AI. Are They Making the Same Mistake Twice?

Only 2.7% Beat the S&P for 20 Years | Ian Cassel on What Elite Stock Pickers Do Differently

Rates Keep Climbing. Stocks Refuse to Break. What If They're Saying the Same Thing?

The Rally is Broadening. The Earnings Growth Isn't. Liz Ann Sonders on Which Breaks First

We Asked Andy Constan What Happens If AI Funding Breaks Before the Thesis — And if Warsh Blinks

We Asked a Value Legend Why the Real AI Trade Isn't AI — And Why Passive Helps Stock Pickers

Falling Rates. Rising Productivity. Are You Rooting for the Wrong Things?

Big Semi Decline. Big Rally. Big Macro Shift | What the Options Market Says Comes Next

Jim Paulsen Sees a Growth Scare Coming | The 34 Charts That Make Him Cautious

We Asked T. Rowe's $8 Billion Tech Manager Why We Are in 1998 — And Why Software Is in Trouble

The Last Bubble Starved Energy. This One Starves Housing. Is the Opportunity Where the Money Isn't?

David Rosenberg and Rich Bernstein on What Ends the AI Trade — And What They Own Instead

Inflation Well Above Target. A Market All In on AI. What Does the Market Top Checklist Say Now?

We Asked a 30-Year Trader Why Bearishness Is Finance's Biggest Leak — and When Deficits Are Bullish

Google Can't Pay Cash. A War-Sized AI Bet. Is One More Hike the Death Shot? | The Weekly Wrap

A $20B Blowup. A War-Sized AI Bet. Was the Bottom Just a Margin Call? | Last Call

A War-Sized AI Bet. Private Credit Went All In. Will the Government End Up Owning It?

No Fed Guidance. No Quarterly Reports. Who Wins When the Data Can’t Be Trusted?

Rupert Mitchell Called It the Worst Chart Imaginable — Then He Bought It: Inside His Anti-Nasdaq Bet

Warren Buffett Published His Whole Playbook | Robert Hagstrom on Why Only One Tenth of 1% Uses It

No ROI Yet. Fewer Recessions. Are You Making More Money? | 4 Things We Learned This Week

1/10th the Liquidity. No More Return | Wes Gray on Bubbles, AI and Why Size Was Never the Edge

He Modeled Every Regime Since 1965 | Aahan Menon on What Wins from Here

We Asked the Man Who Mapped the AI Economy If the Boom Is Real — And Who Keeps the Money

Unemployment Fell Last Month — So Did Half a Million Jobs | 5 Things We Learned This Week

It Only Happens at Bottoms | Andy Constan on the Options Extreme That Showed Up at the Highs

可讀

The Bubble Most Will Get Wrong | Aswath Damodaran on How He Is Investing in a World of AI