Actionable analysis from one of the most legendary traders in history.
April 27, 2026 THOUGHTS ON THE MARKET I have decided to use a different format for this week’s Thoughts on the Market. Specifically, I am responding to a few questions from clients which warrant serious thought. What I found striking was the extent to which my analysis regarding these
Thoughts On The Market April 19, 2026 — For Qualified Subscribers I. Our Current Positioning In the two weeks prior to the U.S. military strike on Iran, we warned subscribers that the bull market was in serious jeopardy. The technical deterioration was evident, the macro headwinds were intensifying, and the
Thoughts on the Market April 13, 2026 Overview & Current Positioning Last week I wrote about the resilience of the U.S. stock market, and how I was taking advantage of the market's short-term recovery to begin rebuilding some of my limited-risk, bearish market exposure. My assessment was
Thoughts on the Market April 6, 2026 Scenarios, Global Consequences, and a Darker Strategic Calculus I. Positioning & Market Context Last week I wrote about taking some profits on my short stock market positions, as I was sure we were due for a period of corrective consolidation. The market responded
Thoughts on the Market March 30, 2026 Friday's breakdown below S&P 500 6500 confirmed the corrective thesis we have held since late October. Markets remain deeply overvalued, the Fed has failed its price-stability mandate, and we are likely in the early stages of a far larger
