Actionable analysis from one of the most legendary traders in history.
January 19, 2026 Thoughts on the Market Five days ago I sent out a brief market update discussing my immediate bearish view on the S&P500. I noted that I had put on a short-dated put spread to play for what I was expecting to be an initial drop
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January 14, 2026 In my write-up earlier this week I noted that the S&P500 looked increasingly vulnerable to a 3% sell-off. The successive moves to new all-time highs had no energy, and the market frankly looked tired. Compared to the explosive moves in silver (see below) and copper,
January 11, 2026 Thoughts on the Market The global macro landscape has entered a period of profound structural disruption. Over the past year, the United States—under the direction of President Trump and guided heavily by the worldview of senior advisor Stephen Miller—has abandoned the post‑World War II
