Breadth Is Lacking: Is The Rally Sustainable?
2026-04-24
Having just hit record highs following an historically impressive 13-day winning streak, stocks are susceptible to a pullback or, at a minimum, consolidation. Beyond the direction over the next week or two, the bigger question is what comes after that. The answer to the question will present itself over time. However, in the meantime, we …
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The Confidence Gap: Noise Or Omen?
2026-04-20
As shown in the graph below, the University of Michigan’s consumer sentiment gauges tells us that consumer confidence is now the worst its been since the survey began in 1952. Despite the confidence gauges being lower than during peak Covid shutdown, the GFC, and the 1970s oil crisis/inflation outbreak, the economy (GDP) and the employment …
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The Passive Aggressive Market: Bogle’s Warning Came True
2026-03-04
Since the pandemic, the line between passive investing and aggressive speculation has blurred. The current bout of speculative fervor extends beyond financial markets. For instance, we see the same impulse in the explosion of sports betting and the surge in event-betting sites like Kalshi and Polymarket. In the investment arena, margin debt is at record …
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1-17-26 Why Position Size Matters More Than Stock Picks
2026-01-17
Position sizing, not stock picking, is what determines long-term investing success.
In this Short video, Lance Roberts explains why oversized positions create hidden risk, how greed compounds losses, and why managing exposure is essential for compounding wealth over time.
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The Silver Surge: Micro Bubble Or Reasonable Valuation?
2026-01-14
Silver has been on a tear, rising fourfold in the last few years. The price is driven by the narrative of dollar debasement. Furthermore, there are indications that limited supply, along with growing industrial demand for silver, warrants higher prices. As we have stated in recent articles (Debasement, What It Is And Isn’t & Dollar …
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Ray Dalio Says Sell: But Not Yet
2025-11-25
Ray Dalio is considered by many investment professionals to be a market maven. This is because of the wild success of his hedge fund, Bridgewater, with assets under management of $136 billion, as well as several best-selling economics/finance books he has written. In recent times, Ray Dalio has repeatedly emphasized that markets are in a …
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