“You almost feel numb.”

The Speaker sees China’s 10-year sovereign bond yield converging to US rates on the way to zero.

Given historically low yields, bonds are losing their ability to effectively hedge against a large equity market fall.

The future is not always a reflection of the present. We believe the bull market has entered its third and perhaps final stage.

What happened to the assured recession which most models, surveys, and leading indicators have been pointing to?

Bringing together the most interesting people in the most interesting locations for the most interesting ideas.

Feeling lost, confused, and uncertain is as much a hallmark of investing as is clarity, conviction, and a sense of calm.

What important charts and levels are you keeping an eye on?

The Fed’s institutional memory of fighting inflation may obviate the desire for deep rate cuts.

“Don’t underestimate the value of doing nothing, of just going along, and not bothering.”

Bringing together the most interesting people in the most interesting locations for the most interesting ideas.

To grasp the nuances of today’s market, it’s helpful to look back at the 1960s—a decade known for its own market upheavals and speculative excesses.