Actionable analysis from one of the most legendary traders in history.
Thoughts on the Market February 23, 2026 The market is entering a phase where policy instability, geopolitical retaliation, and structural shifts in global finance are converging. The Supreme Court’s ruling against the administration’s tariff authority, followed by vituperative presidential rhetoric, a 150‑day tariff window with 15% tariffs
Thoughts on the Market February 16, 2026 If the S&P500 continues to fail at 7000, the first leg down is likely to be sharp, fast, and psychologically violent, because 7000 is not just a round number – it’s a narrative level. When a market stalls at a narrative
Thoughts on the Market February 9, 2026 Magnitude of Takaichi’s Victory and Its Consequences for the Markets Every so often, elections provide clarity. What just happened in Japan, however, is truly rare. Sanae Takaichi will be running the country for the next few years with minimal domestic impediments, and
Thoughts on the Market February 1, 2026 People often ask me what the secret is to making money in the markets. They want to know whether there is a secret formula. Is it a matter of intelligence? Does it require superior information? The questions go on and on. I find
Thoughts on the Market January 26, 2026 Before I dig in, allow me to introduce and welcome my long-term associate, Imre Gams, who is joining me as a partner and co-author in “Thoughts on the Market.” Imre has a long history of successful trading in multiple markets, and we have
